Lastly, have them sign a mini-lease with these details. 

The world of credit card sign up bonuses is extremely broad and deep (too deep to go into detail in this post) but you should be able to hit multiple minimum spend requirements (MSRs) and receive significant bonus value. 

One big one was under estimating expenses needed to run the assets successfully.

However, I would need more clarification on the details.

I estimate this overhaul would save about $200 per month in utilities across the gas (boiler) and electricity charges.

I've estimated from realtors and contractors that it'll take $8.5k plus a Murphy bed to command rents in around $1.3k.I'm looking to fix it in mode of the Houston micro condos in that area.  

When you apply for a HELOC, they come up with an estimated value using software.

Typically when I compare this to the initial estimate the estimate was high, but usually not by much (5-800 bucks).

Details are here:https://www.biggerpockets.com/forums/521/topics/57...Check biggerpockets.com/events to search for more in the area!

If you want more information, p.m. me and I can give you a lot more details.