Betting on appreciation is like gambling in my opinion.  

I would think 5k or 10k would be plenty, though it will depend on house size, age of roof, windows, sewer, AC, Furnace, electrical, plumbing. 

We just took off the old sheet material and underlayment and even after more than 15 years there was only one area about 1 foot square in size that had some wood rotting.  

I'll bet your current interest rate is much lower than what they are offering you on the HELOC.

I build new construction duplexs, althought at a much lower size then yours (1800-2450ft2).  

I agree with Mike, having a real estate attorney will most likely be your best bet.

So, screening too stringently in some of those lower income neighborhoods could substantially reduce the size of the tenant pool for you, to the point where you might be searching for the proverbial needle in the haystack.

My appraisal was also 10k more than my purchase price however I wouldn't bet on appreciation when it comes to Indy.

I'll bet the real definition hinges on whether she holds sec. deps or rents, even if it's for one minute.

Quick question for you.I came true a flip deal, the numbers runs good, but they do not give me any option period.Should I go away or try to bet in a black box?