In either scenario you want to make sure you account for the "cost" of the money in your deal analysis so you account for your HELOC or mortgage payments.  

Analyze potential investment properties based on factors such as purchase price, renovation costs, potential lease revenues, vacancy rates, property taxes, insurance costs, and ROI .

Yes, I had blue tapped up properties, made em come back 2-3 times at properties before and it sucks for all but my painter, he really get's on his guys for it BIG time, because it's costing him big time. 

Unless you are an experienced builder, securing a bank loan can be difficult, and hard money loans often have high interest rates, which can become costly if your project faces delays.

If it is needed kindly let me the know the expected cost incurred for the inspection and also a good inspector contact?

Our properties are built by Morton Buildings The cost averaged about $1800 per unit + land costs.

Since I'm just starting out, I wanted to invest in new construction property that will likely have lower maintenance costs in the short term.How did you find this deal and how did you negotiate it?

It sounds like there are serious issues that the previous owners never wanted to fix or were too costly.  

It's typical practice to look at out-of-state (OOS) marketplaces in order to improve cash flow, particularly in high-cost cities like New York.

Repairs cost more than anticipated