So for portfolio level, could you do: (total cash flow returned / total cost basis of properties)?

They might prefer to see the funds used for improvements on the property securing the HELOC.

The first option is a much better deal if they can secure financing, but the owner financing portion is too much headache IMO, but could work something out with a good contract. 

I asked the owner of an off-market motel if he was thinking about selling.

Some have very little involvement in the actual operations of the properties, so if you are seeking asset management help, I would be sure to ask what the mentor's level of expertise is in that area.Who would I actually be working with?  

I factored the cost of that capital into my calculations from the start (working the numbers backwards from the ARV to the purchase price)(this also encouraged me to buy the properties at a lower cost). 

I checked the comparable near this property.

I’ve thought about making a recreation area, but my property seems to book quite easily without it.

Those kind of companies handle purchasing the home, renovating it then selling it to you and even property managing for you on the back end. 

I am particularly interested in sharing know-how's on residential real estate, rental laws, book keeping practice, and property management best practices.