I have lived here in Utah for the past 24 years and own a couple SFR in Davis County Utah and a commercial building in Bountiful. 

Now the tax assessments can vary widely, I’ve seen land value as low as 3% and as high as 65%!

A full review and a limited review. 

Keep in mind that we were in a market that was not normal and not sustainable we are just retreating back to a normal market were market time is normally 90 days for DOM .. that's been more normal.. its not normal to list a property and have 17 offers first day.. and along with that its the time of year it always slows down right about now.. the turn key folks I know though are still plowing through their inventory.. as investors are buying for cash flow and as long as the numbers work they pull the trigger.

I'd really like to try the Brrr Strategy, and a HELOC sound like a great way to go about accessing the cash needed for a purchase and refurbishing.  

With rent roll already 45/58 roll and a stable and growing job and market, why would you anticipate problems with high turnover?   

We purchased it for $110,000, put around $5000 in rehab into the property, and a month ago it appraised for $154,500!!!!

For tax purposes you are acquiring a personal residence(1 unit) and a rental property(2 units). 

Use keen tenant screening techniques and a solid rental agreement that you can enforce.

The vast majority of wholesalers are not licensed, and as such the field tends to have a stigma attached to it.