What if the Contractor gets into the job and finds out a major structural piece in the attic is damaged and need replacement.

It me took a month to replace it.

I've obviously heard of using HELOCs on BiggerPockets, but not to continue using them, and essentially replace long term lending with them.

I had to suck it up and the house is much better off with the items that had to be replaced and I'm getting more rent because of it.

The repair is to replace the window to the tune of $987.

@Dax Squillante  Using your numbers (which I would be very surprised if you can keep your costs that low), your breaking even with zero cap ex reserves (one piece of equipment needing to be replaced like an AC system, furnace, refrigerator, etc, would put you at a loss for quite a while).  

I'm needing to replace my CPA, he's gotten too busy to help me these days.

And think of the benefit to you in this scenario - You have your 1031 replacement ready to go. 

Definitely a strategy that requires work but I'm looking to replace my income ASAP and this looks to be the best way.I will definitely add Gyro Kabob House to my restaurant list.

When the lease names more than one tenant, these tenants may share their apartment with immediate family; and, if one of the tenants named in the lease moves out, that tenant may be replaced with another occupant and the dependent children of the occupant.