It actually is the original BRRRR in a sense.

James Wesley I used to buy my first couple rentals but that was 5-10 years ago when the rent to value ratios made sense.

(for the record, the property is cash flow positive about $100 per month as is and is only a 5 year old home, but my emergency fund is only about $10k right now)And does it make sense to ever use a line of credit?

You will also want to start reaching out to contractors however, this may be something to tackle when you have a sense of what you want built and what your limitations are.

My desire to improve a neighborhood and my vision of what the block could look like got in the way of common sense.  

Hard money may lend without you putting money in the transaction, if the numbers make sense.

In the sense that they will be buying and flipping properties, that may slightly effect the wholesale industry, but where are they going to get these properties?

The rent to value ratios here just don’t make sense.

It all makes more sense.  

that was one of my main concern because I guess I didn't understand how title policy works in such case. now it makes sense.