For example my nightly minimum is $200 but its listed for $340 a night on airbnb before the cleaning and booking fees are added in other words, i the property, owner get $150 per night from airbnb, vacasa takes $190 per night from airbnb and then charges fees. 

I would then buy more properties and use that cash flow to pay off the 401k loan in time

I then send out eviction notices on the 10th or the 12th.

then looked at a recent appraisal and the pool was a -$10k line item in the appraisal. 

Personally, I love the Chicago market and still believe that there are deals here...I think an important I figured out is determining EXACTLY WHAT A DEAL LOOKED LIKE for me...then getting hyper focused on the area and writing a bunch of offers at a purchase price that WORKED FOR ME!

Then it's a lot faster (about 2-3 mins per photo). 

@Aaron Rushtoni know your questions are very focused on the HELOC but... there are lots of aspects to a BRRRR, and financing is only one of them.and if you use borrowed funds for 100% of everything then yes, that's potentially less cash out of pocket, but it also increases the overall cost of your project, putting more pressure on the appraisal and refinance. 

Then after three years you sold the house for 1.6 to 1.7k.

If a person throws out a retail price that they expect on their home and they want it in cash then we try to overcome that objection over the phone. 

Sure everyone wants to make money but it can feel a bit empty when not giving back into something larger then yourself.