To Sum it up, its a good idea if you can exceed the cost of capital (higher rate than your cost of debt) with what you earn on your heloc/debt you pull out and invest.The question is how much gains above is enough to substantiate the risk of your variable interest rate, well thats up to your personal investing criteria.

Truly believe it would be a hit.I'm sure I'm not the only one who's thought of this.

Any type of investment real estate anywhere in the US can be sold and replaced by any other type of investment real estate of any number of properties anywhere in the US.Washington to CA is perfectly fine.  

I have an idea of an initial investment and returns I would like to hit, but would love to speak with those of actual experience to see if my numbers are realistic.

@Kathy Grossart,A couple of things don't fit here:1.

At a certain point, you've got to make a decision based on the legislation before you. 

Purchase price: $75,000 Cash invested: $10,000 Sale price: $120,000 This is a 2 bedroom 1 bathroom single family detached house is South Georgia.

On average, you will spend 10% of your income on maintenance per year.

Especially if you are looking out of state. 

Once you get the home in the park do your remodel at that point and flip it from there.