But if you spent a total of $500,000 ($300K to purchase and $200K to fix up not including closing/holding costs), then you're still short by $50,000 in the end.So you need to negotiate numbers that work up front so you can pay back your private lender(s), have a bunch of cash of your own to bridge the gap, or walk from the deal.But this is assuming you borrow ALL the money.

If a 'spandex warrior' has ever ran your son off the bridge shoulder cursing because he was in a hurry and getting his cardio on, you wouldn't consider it as happy experience either. 

You should do a 12 month bridge loan, include the rehab costs so you can be reimbursed on those expenses.

In that case, do you mean you'd be getting a bridging loan (rather than a HELOC)?

@Jeff Bridges thank you for the reply.

If you are making improvements to the property, the rehab costs and be included in the loan and it will be structured as an interest only bridge for a year or 2.

If you believe her, I do have a wonderful investment opportunity for you. huge bridge in Brooklyn...great rental potential. are you interested?

I wasn't impressed with the listing agent's lack of response, but it is water under the bridge. 

Exit strategy for 2-3 year bridge loan as down payment? 

Sounds like that borrower wasn't upfront, I'm definitely looking to build bridges rather than burn them.