@Andrew Lopez, in MANY cases for the numbers on a BRRRR deal to work out the property needs to be very distressed and often not eligible for a traditional loan for the initial purchase.

Ensure that the purchase price, rehab costs, and After Repair Value (ARV) are all reasonable and accurately assessed.

Gain = Sales price less expenses less adjusted basisAdjusted basis is purchase price plus improvements less accumulated depreciation.

Analyze potential investment properties based on factors such as purchase price, renovation costs, potential lease revenues, vacancy rates, property taxes, insurance costs, and ROI .

I actually have done personally exactly what you're describing - HELOC on primary residence, use that to purchase new primary, move into new primary and rent the previous home(4 times in 5 years).

I recently received a quote to paint the entire interior of my recently purchased home.

Percentage of the purchase price), average home in Cleveland purchased in 2014 or the average home purchased in San Diego in 2014.  

I see this is an older post (better late than never) Usually 1% of the purchase price is reasonable.

2) Do you hire a property management company before or after you purchase the property? 

I am consistently helping my investor clients purchase move in ready 3/2/2 SFR's here for less than $300K.