That said, if the OP is trying to do a HELOC on their existing home and not this subject property, than my comments should be ignored totally, except the part about THEY ALREADY DIDN'T QUALIFY FOR THE HELOC DUE TO INCOME.Also, "after rehab you can cash out"?

The dispersion of all houses within the total distribution of the market could go much wider than that. 

(Which kills my numbers.)The T12 numbers were iffy even though the building is 100% occupied currently and future proformas looked good.There is a new construction happening nearby - 335 unit large apartment complex coming online in Aug 2018.Nobody said out-of-state investing was easy, LOL. 

Looking for properties that need "some"  interior work, not total re habs and or fully gutted.

Again, what was the total you had for down payment and reserve account?

I have total of 350k on account.. 

I've been researching online for the best exam prep courses and it seems like KAPRE/Brightwood Real Estate Education is my best bet as I do not need to take continuing education. 

I didn't totally understand this:"also in your contract make SURE you demand that all work product engineering soils geo tech that type of stuff is once paid for your property as well."

From what I can tell the current owner is burnt out and has totally transformed the property from my research.

From what I can tell the current owner is burnt out and has totally transformed the property from my research.