So I'd be pulling equity at 9% and only get paid 5% if I used the HELOC and kept the cash in my high yield account. 

Paid him $100.  7.  

Through your local bank that you are using, are you reapplying for each new home for a seperate construction loan or are you setup as a credit line with them and just submit a new budget for each new home 7 mil credit line  ... new budget for each plan that has been pre appraised in the MAI at the beginning of the project.. they did have to update the Mai last summer but again did it at their cost not mine.. banks have to paper their files.. even though we are selling the same floor plans for 100k more per plan than the original numbers came it at and bank has been paid and has all the closing statements showing this data..

Go search the topic "Lifestyle Asset University" here on Bigger Pockets and you will see a longer thread with a lot of opinions (most are not members) but still worth a read as there are a half a dozen paid members from our group who have commented on that thread.We were formerly called Lifestyle Asset University, but I didn't realize that you couldn't use the word University in your company name here in Utah so we changed our name to Vodyssey. 

My client bought a 22 unit building and used this strategy and walked out of closing with a check for $800k to perform the rest of the renovations, paid himself back his already expended rehab costs and his entire down payment.  

There are some ways around this, but it's not in your best interest.The fact is, a buyer's agent doesn't get paid unless you buy a property.

Airbnb came out with a new co-host option where you could get paid for your services to assist owners by selecting % of rents...maybe have him pay you 99.9%?

The least states:"Tenant shall pay a "late charge" not in excess of five (5%) percent of the amount in arrears for each month the arrears remain unpaid if any Rent is paid more than ten (10) days after the due date thereof, to cover the extra expense involved in handling delinquent payments.

Lastly, you're coordinating with vendors who want to be paid for their work and time.

It is now paid for, is worth triple my purchase price, and provides about $60K a year in rents.