Like Darrell mentioned, one thing I started doing is scheduling my showings all at the same time.

I had an issue, though, and may be switching, most likely to one of the two I mentioned.

For discharge income: If debt > FMV = there is a debt discharge incomeIf FMV > debt = There is no discharge incomeSo, there might be two taxable gain/income Normal capital rate gain or loss: If basis< deemed sale value (lower of the FMV or debt - as mentioned above)- there is a capital rate gain.

The market i'm in is very saturated with investors, not to mention very pricey.

And yes, as you mentioned, this is complicated and I'll be working with a CPA throughout, thank you!

On my first wholesale deal, I did what you mentioned, and I spent a small amount $2K fixing the house up to make it more appealing.

@Trenton   I have and i had a few local brokers that mentioned they would assist but  no luck.   

As you mentioned, I like the HELOC because of the flexibility, which makes it ideal for BRRRR and rehabs where you can cycle the money over an over and it costs you nothing when you aren't using it.

Like you mentioned, you can even use it for Assisted living facilities (ALF) but an officer ( I think Fire marshall dept) will need to inspect and provide Certificate of occupancy. 

I did forget to mention that I will be leveraging my Realtor License for MLS access and a slight discount on purchase.