The owner is estimating that the Tax Map Key will be available in 10-24 months. 

On average, single-family homes have experienced appreciation ranging from 3% to 5% annually over the past decade, depending on the market.

How nice is the property?

I spoke to another guy at a conference who used to build 1-3 units before doing commercial and he said he wishes he still did the single family because it generates a lot of cash and is pretty simple. 

The investors I’ve know through the years who have utilized “sharp tactics”, something less than “honesty”, etc.  

Since the HELOC was used for a business use (renovating the rental) you can deduct the loan interest against that rental using the interest tracing rules found in §1.163-10T. 

Quote from @Kelly Kitchens: I am a developer, investor, commercial Realtor and I build multi-family projects.Hi @Kelly Kitchens, welcome to the BP Forum!

I tell people all the time: if you can't find a quality PM in a market, don't invest in that market!

The state's average in which houses stay listed is around 4 months which was an increase of 9.7% from last year. 

What is the budget for the remodel?