In most places even if a landlord wanted to they cannot fully use a deposit for carpet replacement, sometimes they can do a certain percentage for each year you were there usually 5%. 

Fee StructureLender’s Fee: A percentage of the Loan amount paid by the borrower to the lenderLender’s Commitment Fee: This will get paid by the borrower to the Lender, regardless if the borrower decides or nor to obtain the loanBorrower’s Broker’s Fee: A percentage of the Loan amount earned by the Broker representing the borrower and paid to the Broker by the BorrowerLender’s Broker’s Fee: A percentage of the Loan amount earned by the Broker representing the Lender and paid to the Broker by the LenderAre any other additional fees standard?

But i want to see what other GP’s are doing or think about different LTV percentages and the grade of risk you’re taking with all.

You should be able to do a partial 1031 exchange and reserve a percentage of the proceeds of the sale to pay off your HELOC but the amount will not be protected by the 1031 and will be subject to normal taxes.Regardless I think you should seek the assistance of a 1031 professional and not a run of the mill CPA.

Detroit has a great price-to-rent ratio, low cost of entry, high percentage of renters, a growing economy, and plenty of short flights there to and from NYC if/when I need to visit. 

You ca also see what percentage landlords are buying according to the rent rule, For example in my market i have seen buyers buy 1.2-2% of rent in Louisville, Kentucky rather the just the 1% rule, Even though some do still buy at 1%.

Given that a large percentage of travelers are young and having a good time goes hand in hand... 

The conversion may already be allowed under current zoning as a senior care facility can be multifamily depending on how it's used and the percentage of the community that is used for assisted vs independent living. 

Percentage of return on their money, length etc. do you use for flips or brrr’s?

Is it a percentage or can it be anything?