I would like to pull out a HELOC on a duplex that I bought for $92000, put down $13000, now have an existing loan for $79000, but if I can make a few updates and repairs to the exterior... this is in a market where this house would be worth $160000

After you get it repaired and stable, then you could refi it with fannie/freddie or other non-recourse

Repair might take some time maybe weeks as they need to order parts.

They will usually lend you 70% of the After Repair Value on the property. 

I personally have started using cozy.co for tenant applications, online rent collection and managing repair requests.

You don't get to choose the amount you declare for repairs, utilities, management, etc. 

Most of the units are in fair condition, but all could use some repairs and updating apart from one that needs quite a bit of work.

I don’t know if this helps or not, but the loan is going to be FHA 203k, or Conventional (depending on if the repairs are serious enough or not) Thank you very much!

Having said that, I need to put about $40,000 in repairs into it. 

Typically, a full-time PM (especially when you're long distance) handles everything for you from advertising, screening, and placing tenants, as well as day to day stuff such as handling repair requests, collecting rent, handling rent court/evictions.