Is HELOC good idea to finance apartment building rehab?

[Amy Hu]

The building in OH we're looking at needs renovation and is currently vacant. It'll cost around 150k and about 6 months. Once we finish the rehab, we can refi the building and pay back the HELOC.

We have excellent credit, high income, low debt and steady cash flow coming in. We also have SFR (paid in cash) in retirement account and cash in Roth IRA. Our primary residence has 300k+ equity.

We have cash to buy the building but need money for rehab.

It seems that traditional commercial mortgage would be difficult. 

Considering the hassle, cost and interest rate, is HELOC a good idea?