As it builds, it reduces the value of your cash, PV and equity. 

What’s your guys favorite ways to stress test your underwriting?

How can you go about reducing/mitigating those factors? 

They PM will pay for themselves in reduced heartache and stress on you while increasing rent to what it should be will more than cover their fees.

Do I need this to help reduce my risk on supply chain things?

Spoke to a few lenders and apartment investors, I learned the average time it took to close a deal 24 months ago was about 90 days and this reduced to about 60 days in the last 12 months.

These transactions rekindled the fire in me for paperwork and mortgage stress.

Some lawyers use drop and swaps to reduce the likelihood of those but I am not an attorney and cannot advise.

Im able to get discounts on these properties too but able to ease my seller to move forward and accommodate them without putting the stress on them of completing the repairs themselves. 

As far as tapping into your equity, HELOC is a very popular option, just make sure you work with a lender that hasn't historically been known for randomly reducing or closing the line of credit.