HELOC are variable rate. 

Perhaps I have been fortunate or they are particularly efficient in the states we focus on.But yes, our advertising of closing from _as little_ as X days is quickly tempered with an explanation of the variable speed of appraisals. 

One being a HELOC with its variable rate for anything borrowed, but very minimal fees until I choose to use money. 

I get there are a ton of variables, but a few things I'm unsure of in particular:-if he hasn't paid his taxes, how could I use that to my advantage?

Each of these variables will dramatically change the advice I give the individual asking me this question.

So many variables to look at on a property.  

Cost:-StartupFurniture= $1000 (already furnished I will just add and Crib, and Bunk bed)Appliances= $300Security Deposit=$3600 Bath Supplies=$200Kitchen=$200Cleaning Supplies=$300Total = $5,500Recurring Monthly:Rent= $1800Utilities=$200Internet=$100Cleaning Supplies=$100 (I will do all cleaning until I find some one that can)Misc=$100Recurring Per Stay:Cleaning service= $70?

I've been reading as much as I can on here to see how I can do it but I think there are a lot of variables that I'm probably not thinking of because I don't know what I don't know.

If you buy a Moen faucet at HomeDepot its feather light and made entirly out of plastic; you can get the exact same Moen at a plumbing supply house made of metal.I am usually over $3 per SF for top quality material.

Be sure to look at items besides radios too - TNCs (radio modems), power supplies, antennas, rotators, towers, boxes of tubes - especially those the size of a tennis ball or larger - those can be expensive high-power tubes, which we still use in linear (power) amplifiers.