So, for example, if we finished replacing the roof, I'd make a request to release funds and the inspector would verify the roof was completed and appeared to have been done correctly. 

If you are using your HELOC for a downpayment, your rent needs to cover the cost of your new mortgage, HELOC and expenses.I'm analizing a lot of deals now; must have looked at close to 100 over the course of the last week and this method makes it tough to find a property that makes sense numbers wise, however there have been quite a few that have been break-even given this scenario so i know there will eventually be one that provides some cash flow, even when using a HELOC, i just have to find them.Good luck!

I wholesale....but I also know how to analyze properties for rehab, have a realtor run tight comps and know the correct contract verbiage that goes into wholesaling.

You find the list, track down the person by skip tracing or some other method. 

Hello Matt,In the institutional investor world the method used to manage turn cost was $ per sqft. 

When I bought this house I was cash poor so I rolled it into my mortgage (about $3,500 if I remember correctly).

I know that doesn't take into account the finish/quality of the homes, but is that method generally accurate? 

I used that method and have explained it in more detail in other threads or in a book.Moment number two – as a broker, I began doing real estate syndications and raising money.

correct, for a conventional mortgage if you live there or not. 

I am accounting for a correction in my underwriting.