-Her split is 30% of profits whereas others are 20-25%-She requires a $500 "technology fee", but it's only a $30 amazon key-pad deadbolt.

So you can achieve a very small financial savings due to how the average daily balance is calculated on a HELOC... but would you rather tie up your HELOC to save $12.63 in interest a month, or use those funds to make more profitable investments?

A low price is no guarantee of profits. 

Traditionally I have sold the builder land and loaned him the money to buy the land and build the house with us splitting up the profits when it sold. 

This is a net profit of ~~ $1300 monthly. 1300 monthly X 12 = $15,600 anuall cash flow15,600 cash flow/ $53,000 acquisition cost = 29.4% cash on cash return. 

At the acquisition price points, and the market value of the units if you do decide to go wit a pm you’ll find yourself not being very profitable as most pm’s will charge $75 per unit min or 8-10% of gross rental income.

It would not be a terribly profitable industry, and a few large players (hopefully including my NewCo) would dominate the space.

I worked them, remodeled them and made very little money and eventually sold them for little to no profit.

You can make great profits flipping houses, but you can also lose a ton if you don't do it right.That said, I encourage you to be in touch with an investor friendly agent in Indy.

If she pays, then your really out of luck and you have to sue her in court for breaking the lease and damages.In general, I don't take people to court once I have the property back as the attorney fees and the fact you RARELY collect on any judgements (15% of the time or less) eats any profit and wastes your time.