The house has new windows, 1 year old roof, and the first floor unit was redone with laminate flooring in the kitchen and has the original hardwood floors (good condition) in the 2 bedrooms and living room.

Suppose I use friends/family money (Private Money Lender) to loan me 45-65K with the condition that I will pay them from the HELOC once I get it, how much interest is considered reasonable to pay them if I pay them back in 30-45 days?  

What condition was the comp in?

I'm telling you as a local that the property is worth no more than 75,000 in it's current condition yet it is being assessed for ~$100,000 due to it generating rental income in the last 3 years.

After you are conditioned to it a little bit, you get used to it and it becomes acceptable because it is the trade off to be in a place where you can do what you want, within reason. 

Pricing your property below market doesn't mean you are stupid, it means you will potentially bring in less money than might be possible under optimal conditions.

It is possible that your agreement was written in a way where the seller could keep a portion of your deposit based on certain conditions.

@Justin PeuckerMainly just looking at number of bedrooms, bathrooms, square footage, garage size, and condition of interior such as kitchen and bathroom finishes.

Maybe put $900 in this scenario if the units could pull that in their current condition or $1100 but up front reno.

Be prepared for a bidding war on anything you find on the market in decent condition/location that's priced below $200k.I know this likely is not what you wanted to hear but it is our current reality.