I have some of the required funds in a HYSA, but will most likely need to draw from another account and I'm curious which method is the most efficient in terms of taxes/capital gains, penalties, loan repayments, etc.Based on my previous transactions in the market, I estimate ~$45k cash to close: $20k for the down payment, $15k for closing costs and prepaids, and $10k of starting reserves.

By making partial dispositions, you can also avoid subsequent recapture on these items when you go to sell.

A good PM will be able to quickly draw upon process, procedure and mechanisms in place to handle the "X" in your question. 

What is your draw fee & benchmarks for the repairs portion of the borrowed money?

They also benefit from strong schools, which can be a huge draw for long-term tenants.While you may not achieve high cash flow immediately in these areas, the property values and rents tend to appreciate steadily over time, aligning well with your goals.

Unrecorded instruments, as between the parties and their heirs, and as to all subsequent purchasers with notice thereof, or without valuable consideration, shall be valid and binding.  

To the point above, then there would be comps and BRRRR may be viable for the third and subsequent properties in the same market.   

I was considering having a lawyer draw up a baseline loan doc and make tweaks to it on a per loan basis.

The details of the incident remain unclear, but they intentionally granted access to someone who subsequently stole major appliances.

I was considering taking out a $240K HELOC with a 10-year draw period and pulling $160K from it to build the next rental property.