You would replace your $70K mortgage with a $110K HELOC at 5.64% to 7.64% that is adjustable?

Prelim #'s I'm running show cap near 8% - however I'm fudging high on water (irrigation) if we tied into the city water - I'd like to have a well drilled and put in a warm season grass so the mowing season is shorter and it requires less water.Putting in vacancy of 5% though what I've noticed is the new developments stay full - also figuring Cap Ex as well, which honestly if we build right and dont own more than 10 years or so the only thing we should look at having to replace is carpet or a water heater which is minimal unless a hail storm or tornado goes through.  

I am a computer engineer, currently working a full time job in the field.I am easy adaptable, responsible, self motivated, patient, flexible, dedicated, I believe in proper planning and management .I have the spirit to fight till the last moment with positive attitude , positive thinking to get the job done.I am new in real state, my goal is to buy/hold, flip whole selling and create passive income.

Currently, I am a scientist/engineer, which means I like to solve problems and think about all possibilities of a situation.

And if you are a smarter person, rent to people that have friends who then invite them to replace after they move out.

I am a Mechanical Engineer with a large Oil & Gas company here in Denver.

One would not do a replacement type of policy but would only do a repair cost type.

For example, you already know the cost to replace a blind, the tenant may not, and be motivated by seeing the price listed. 

Trying to eliminate the need for the fax machine, potentially replacing it with a scanner of some sorts.

On a side note, my business is rentals but I am also a software engineer.