The downpayments go to 25% and you will need 6 months reserves, of PITA typically.  

Typically on a BRRR you buy and renovate and turn it into a value add where you gain equity from the renovation. if the house has been renovated already not sure how much there is to gain besides regular appreciationTrue BRRR example is buy for $100k, put $30k into it, new value $175, refinance it for $130k (get $ back) then rent it for positive cash flow.

You payment will typically be a monthly interest only payment.

Typically HELOC purchases are treated as cash come time to close at the title company, but it's not like I'm dipping into my savings account to purchase. 

The money that people try to save by not using a Realtor typically results in longer days on market and a lower selling price.

You can typically get delivery next day on any in stock items.

@Chris Rendall, as well as the seasoning period, keep in mind that the Refinancing Lender will only lend up to a certain percentage (typically 70%) of their appraisal.In your example, even if it appraises at $120k, that would only allow an $84k Refi!

As mentioned by Matt this is typical practice.

I typically do year long leases so that I can end the lease in a month that I know I can get the highest rental amount possible.

Is it much different than a typical residential closing?