Using the custodian's Tax ID is best as it keeps the owners SSN off the tax reporting but both methods would be correct. 

Easiest method - look for sales (not list) prices on same street with same BR/BA, sold in the last 6 months.

For your main topic of discussion, there is a method of taking "private" money. 

It's similar to the BRRR method, but we aren't limited to the conventional loan limits. 

This method requires you to have a lot more cash since you gotta be out of pocket with cash before you get your money back to recycle and proceed to phase 2.The HELOC route is the because once you establish the line of credit you can pull it or use it at will, but the downside is the HELOC is only based off the current fair market value (FMV) of your property today so you cannot borrow against the after improved value (less access to future equity).

I would like to eventually buy properties - using the BRRRR method - and rent them out for the long-term.

There are methods to the madness of mortgage companies (I work for one now , so I understand that more now than I did in the past).

Hey BP- Quick question, we want to spruce up the cabinets in our rental (they’re the traditional light oak cabinets). The cabinets are in good condition but I’d like to change the color to give the kitchen a facelift ...

I've tried different methods over the years and haven't pinned one that consistently works.

I just thought I should try the old school, fundamental methods first, or NOT?