.: I am trying to learn and understand... someone told me that its not just size of the home or level of the flip that determines profit, and that in some markets, what is considered a typical profit is 300k based on the 70% ARV formula.

I’m weighing a few options: taking out a HELOC on one of my properties, getting a second mortgage, or simply waiting and saving up the funds.

For example, search the forums here for a tiny glimpse on how many newer PMs/landlords complain about driving out to meet a prospect... only to be no showed or stood up by someone who had no intention or capacity to follow through from the beginning.Prescreening prospects to separate the window shoppers from those who meet and match your pre-determined, in-writing rental standards is critical to ensure you're not wasting anyone's time: theirs or yours. 

There will be MANY times where things do not work out in your favor and most of the time things don't work simply or smoothly BUT over the long haul its worthwhile.

Hey @Brett Baker, so other sites simply don't have the reach that AirBNB and VRBO have.

This matters as it helps determine the "placed in service" date. 

There's always a balance in determining whether building new makes economical sense but based on the way you are describing the location it likely doesn't pencil to tear down and start from scratch. 

I get where you're coming from, but you're making a lot of assumptions that simply don’t apply to me.

There is a lot of variability in this answer and, like all things in real estate, it simply depends. 

The #1 determinant is the Tenant Pool.If you don't believe us, try putting several Class D tenants in Class A apartment buildings and watch what happens.