I do have some knowledge and I'm almost there to have a complete picture but getting it right and having proof of concept to finish the deal is of course the goal but not at the expense of financial loss for me or the person I'm trying to wholesale to.

I had the same concept as you.

You just can’t successfully operate in the real estate industry unless you master these concepts.  

For example, while I understand the concept of cost seg, I have no experience with it. 

Some carriers have a strong appetite for a certain geographical area or dwelling characteristics.Replacement Value and the market value of a property are two separate concepts. 

I’ve read lots of theory of what could work, but haven’t seen much proof of concept of these theories.

Your description of a 2nd position HELOC helped me understand the concept better. 

Quote from @Isabelle Guarino: Quote from @Douglas Olson: I'm fascinated by this RAL concept and wonder if any of you are serious about moving forward or maybe are in process? 

I like to keep the whole concept very simple so I don't even bring up interest to the seller.

This is especially useful if there is no clear vision or you want to save time.On the other hand, if you have taste and experience in renovations, you can do without a designer and invest the saved money in more practical things: high-quality furniture, equipment or amenities for tenants.I would consider a compromise: order only a concept layout from a designer, and do the implementation yourself.