That's so odd (but typical) about the appraisals.

@Lena Claybon - I agree with the other posts about JV or finding private capital, but will also offer another option that may or may not work for your situation.Not sure how close you are with your GC/contractors, but if you have a good relationship, you can have them agree to payment terms where they receive payment after each check-in draw with your lender (so I would assume a week or two later than typically expected). 

Given the circumstances, I would suggest you either notify him via text or Email — whichever way you typically communicate with him more frequently. 

@Gibran Saliba Yes, typically at least 20%, possibly 25% - 30%.

The contractor typically stands back and lets the 2 work while overseeing.  

I adhere to Dave Ramsey's philosophy on my personal finances with the exception of only buying houses with cash...thats just crazy.... just don't understand his mindset on that. 

This kind of thing typically doesn't happen in a vacuum.

In MA, we must disclose latent (hidden) defects that we know about - but states differ in their regulations.This is one reason that seller's agents around here typically don't want to see the home inspection report. 

Don't be afraid to give a few of them a call and ask what they are typically seeing in the area for current costs.

The devil is in the details, but with a HELOC I think you will typically find a short repayment period maybe 10 years.