Typically you see people reserve 8.3% vacancy, 10-20% repairs/maintenance/cap ex; 8-10% property management in addition to things like insurance, taxes, any landlord paid utilities, lawn maintenance, etc.

All showings have been pre-screened fairly extensively.  

What's the best way or resource to utilize?

http://www.wcequitygroup.com/properties/4577620045Cost Analysis Performed as Rental PropertyIn:Rent - $11,100.00Out:(Annual) Estimated Taxes - $500.00(Annual) Estimated Insurance - $850.00(Annual) Property Management (Optional) - $888.00(Annual) Estimated Utilities/Lawn/Misc -$555.00Total Costs - $2,793.00Net:$8,307.00Earn:Total yearly net equates to -$8,307.00Total monthly gross equates to - $925.00

Profitability to us = cost (mortgage) plus expenses (utilities, housekeeping, furnishing, supplies - long list) exceeded, plus at least 10% of downpayment recaptured every year. 

The real answer is it depends on the intended use of the property, how extensive the renos are, and what your risk tolerance is. 

To build a buyers list, go to the top of the BP Wholesaling forum and read the sticky topics there; one has an extensive set of links to a variety of methods. 

The daughters are paying all utilities, property taxes and other expenses associated with the property.

In the end, refi to pay back the HELOC and roll everything into a new loan on the property.As with the original posting, I too want to utilize the HELOC for rehabs since I am not able to finance that portion with a conventional.

I have a few that receive discounts for services like @James Wise mentions.In an environment of ever increasing utility costs and rising taxes, sometimes the best I can do is raise a good tenants' rent by, say, $25, then include an addendum with that rent raise that 'reduces' their rent by the same amount for continuing to pay on-time and in-full with no neighbor complaints.