@Drew SygitYes, the obvious answer would be to get a property that cash flows that amount.

There is a lot of cash flow that will come to me immediately after purchase from all the current renters in the building, boosting my income and will be more than enough to cover the mortgage and expenses. 

If I don't use those contingency funds for the roof work, I'll need to fork over an additional $5K in cash.

Given your cash-on-cash is only 1.8%, that appears to be the case.

In Seattle they are 9 months out to hear and give you the writ of restitution, then a 3 + weeks to get the count Sheriff out.This is why good Ole Cash 4 Keys work. 

Do you think I am wasting my time for this for 34k profit if I am spending close to 25 k in cash? 

Purchase price: $275,000 Cash invested: $60,000 Sale price: $417,000 Knotty Alpine Cove in Gatlinburg, TN was our first BRRRR to STR.

Ill be looking for home equity loan, over a property I completely own (paid cash) . 

First, determine what your lender offers in terms of Loan-to-Cost (LTC) for acquisitions and the maximum Loan-to-Value (LTV) for a seasoned cash-out refinance.

I budgeted about 45k in cash to renovate the master bathroom, kitchen, guest bathroom, and painting the interior.