Let me know what you guys think of the concept and how it could be improved?   

Till this time I used to listen to bigger pockets podcast and watch YouTube videos.I am really excited and looking forward to buying my first home/ multi-family (2-4 units) in WA preferably in Snohomish County and Pierce County.We are really willing to move fast and buy property in 3-4 months timeframe if we come across something that is really good.

Did a youtube for each lot noting its special features. 

So at least $175,000 in improvements, which would have to be cash out of pocket. 

I'm looking at a property with two buildings.The first house is very well kept and reflects its fair market value - no substantial room for improvement there.

FHA 3.5% down would be a good loan program to use so you can save any remaining capital on improvements. 

Sounds like you've made some nice improvements to your property!

I know repairs and improvements are a deduction, but not what I'm focused on here.Let's also say rent is $1100/month.

This market likely won't improve for at least the rest of the year, so the window isn't likely to widen any time soon.

There are all sorts of Youtube guru claiming false mathematical claims about what HELOC can do.