The plan to get the wheels turning

[John Cushing]

I have a rental property worth around 250k with 86k left on the mortgage. I'm planning on taking out a heloc of around 90k. Then I plan on flipping houses. I have a hml that is willing to put up 90% of the purchase cost and 80% of the rehab at 12% percent. And the money I'm going to have to come up with is going to be from the helco. This is going to be the first flip and first time dealing with a hml. He comes highly recommended. Is this a good plan or should I go back to the drawing board?