I plan on doing a lot of the cosmetic renovations myself (drywall, cabinets, flooring, etc) as I've been in the trades for a couple of years now.

Plus, $150 per month can easily get eaten up by small routine repairs and maintenance a few times a year.I don’t know how much you’re able to acquire or what type of strategy your planning (e.g., BRRRR, Turnkey, etc), but I would try to find rentals that will cash flow at least $250-$300 per month.Also, have you considered a 30-year fixed home equity loan rather than a HELOC to see if your payments would be better?

I guess I’m not really concerned about the ‘flipping portion’ (Electrical,plumbing,cosmetics,structural issues etc) but more on the initial purchasing aspect.

Put in new kitchens and baths (Home Depot off-the-shelf level) and the rest was mostly cosmetic work and some new windows.

It needed small cosmetic tweaks, but that was it.

The house does need some minor cosmetic remodeling, but we are also concerned that the property has oil heat. 

-The prop was in solid shape, rehab consisted of paint throughout the house, cosmetic work in the kitchen and living room, cleaned the basement and waterproofed it, converted second floor to a 3rd br.How many bids did you get?

I think you could probably rent out a single family of that size for no more than $1400 Depending on the street/ cosmetic finishes.

Let’s assume for sake of argument you put it under contract for $110k and everything from inspection is cosmetic, you may put $15k into rehab and be all in for $125k plus any financing costs.

If you're doing wholesaling I think they're probably the best for you.Assignment of Contracts aren't hard to do and are routine in my firm.