It could be homes that you hand pick based on criteria that you establish (sq ft, bedroom count, etc) that aren't necessarily even in the same area.The process is VERY similar to ACTUAL farming, which is why the terminology is used. 

@Hub Knott I doubt there is a solid number out there you can count on.

I know there are things I can do to alleviate the burden of the utilities or get more rent (I.e. raising rents, coin laundry, charging for storage/garage) but I don't want to count on them when determining an offer.Thanks in advance!

If that happens, it would speed up development and increase values on Wadmalaw and Johns but I wouldn't count on it anytime soon.  

There are many rules of them, but real numbers are what counts. 

In this situation, will the HELOC count against us in a debt/equity calculation? 

You should always underwrite the asset as is and base all your financing decisions on current income and not proforma especially counting on a refi.

*Note: If a follow up call was made a voicemail left this only counted as one touch.

I have thought about buying a primary residence but I am constantly reminded that your house is not an asset but a liability.I may have two potential hard money lenders (relatives), but as I don't want to count on this my other option be to get a FHA loan with PMI.

Give nothing more than the bed/bath count & rent price over the phone, and recommend setting up a showing of the property.