The $10-15,000 in equity is attractive, it has a renter, and I know it will be turn key.

Your average General Partner/Sponsor will raise 90% of the required equity through a limited partner to buy a $10 million dollar apartment building.

I have a client who lives in King County whose current house has no mortgage and should clear one million when it sells. 

The 'new' debt service coverage ratio (DSCR) driven products are more attractive, though, IMHO. 30-yr fixed rate, 30-yr term, rates in the 4s (right there / better than banks) and no debt to income ratio BS.

@Bob Lett lake/water front ideally and close to some sort of attractions. 3br 2ba or something with value add play.I started researching municipalities but that task got a bit daunting.

Replacing the front door may only bring a 53% return, but it can increase the curb appeal and attract more buyers, increasing the chances of selling.

because of new hosts managing from abroad not doing proper guest screening and having incredibly low prices that attract all sorts of people to their place.

students deserve nice places to live. we aren't trying to be slumlords but i do realize that students probably have slightly lower expectations than other types of tenants, so i feel we wont need to break the bank in the level of finishing details like we did on our own home but we will provide housing that is clean and safe and attractive. also thinking we can use some creative materials and methods to make the units party-proof. maybe we get lucky and find some long term professors or grad students and don't have to do annual turnover on every unit. even so, i budgeted 8% for property management after watching david greene's webinar yesterday.the heloc would allow for an easy down payment and a nice buffer for rehab, and i have 750+ credit score and good wage earning history, so i think a conventional loan should not be a problem to obtain. a cash out refi might be an option on the horizon if we decide to really crank a proper rehab but the units (from the pictures i saw) are livable as-is.should i be more specific here on the address/market to get better help?

Hundreds of millions of visitors/month. 

I've helped with 3 separate companies that do crowdfunding so very familiar with SEC Reg CF requirements and accounting needed for it long before you have a video or pitch deck decide it you are going for a Public SEC-registered CF filing you can raise up to $5 million per year.