@Nick Kouli Your best bet I believe would be to see if the seller would offer seller financing without a down payment.

Good news is bet you won't make this mistake again : ) 

I bet the 254K one has most things remodeled.

It is usually a series a poor choices that get them to that point and it can't become your problem.

Using that number, that also means you're paying in equity, $250k for a house valued at twice what you are paying for it.5 - If you sold this house, and took the profit, and use it as a 20% DP, that would mean you could buy RE worth 5 times the DP...or, $1.25M.6 - If you took that DP money, and split it between a rental/investment property and your residence, I bet you could make the rental house have at least $1200/m in cash flow and still live in a nice house. 

Cats like to play with mice until they've killed them, and then unless they are starving just leave it as is (given the choice a cat would eat a live animal versus a dead one any day).

Is a Heloc or 2nd mortgage a poor choice if I can get this property in shape by January/February? 

Went with Jet Lending and they are considerably high but I had no choice. 

This would not be a good deal for me, but that's a very subjective question.2) Objectively you should refi for 30 years, but there are many subjective influences that can make 20 years the best choice for your personal situation.Sorry, this only qualifies your question!

If there’s anything I can share you can bet I will.