Happy to share my experience and compare notes.  

Note- I realize near turn-key is unlikely with the later options, but I suspect price would likely be offset to where I can rehab and still be in budget. 

Note the rounded corners on the laminate and the angle-cut on the lower left cab at the back where it comes out past the hallway - don't get that stuff with stock materials.I spent $5000/$450 per kitchen installed.

The sellers usually want to cash out so make your note short and sweet for them.

Because I'm more than half way through a 15 year note, I'm burning down my principle pretty quickly so I'm "picking up steam" with my IRR. 

Or I suppose I could pay it off with the HELOC and consolidate...if the numbers work of course.as one who has created a few LID's in the past as a developer.. we did those through different types of Bonds which are then attached to your tax bill .. in CA they are mello Roos  1915 act.. etc etc.. these have to do with selling in the secondary market and if the county backs them or not if the owner does not pay.Any way way back in the day these bonds were written at 8 to 12% interest.. yield for the note investors.. 

Especially if it's hard moneyif it's a heloc or private money and your financials are strong enough to hold both notes, they may not care to do either and just cut you a check. seasoning is common and differs by loan product and the bank overlay (meaning the bank may be more strict even if the product says 6 month seasoning and require you to wait 12)delayed finance is a bit tricky because it generally requires a lender who knows the program well.

Net Return = 9.9%.Note you can probably get better rate than 6%, and you need to include other considerations like vacancy, capex, closing cost. 

I personally like the appeal of the 30 year note as those arguments better fit my business model.

On another note he also said that I should file for a license if I’m “flipping” and by license he is referring to excise tax.