You may have different questions or your situation is different. 

In that situation I purchased a SF property 4 hours away from me this year as a fix-n-flip and to test the hypothesis that long distance fix-n-flips could be viable investments. 

How do contracts work in this situation?

I have decided to look into a heloc, I'm a bit newer into realest state investing, I have completed a couple of fix%flips this year, I currently use hard money for the purchase with 10% down and I cover 100% of the rehab, with that said even just doing a couple of homes at a time, I find myself around 200k out of pocket, I think it would be a bit easier on myself and wife if we utilized a heloc vs just cash, my primary should appraise around 1.1m and my mortgage is 640k, I'm looking at pulling about 250k for a heloc, I don't want to refi the home and cash out as I only want to pay interest on funds as I use them ( I know I won't always be using the heloc cash) Any advice or even knowledge for people in a similar situation, and anyone have a referral for a Heloc?

Quote from @Shiloh Lundahl: Hey @Marcus Auerbach and @Joe Villeneuve you both have great points.In my situation, I am in a market that has appreciated out of positive cash flow for the average investor.

Any competitive DSCR program is going to be in the 90-day seasoning range for allowing a refinance based on the newly appraised value.Your 9-month seasoning should not be an issue, barring an extremely unique situation (like inheriting a property or having it gifted to you).------------------------------------• 0-6 Months (Delayed Purchase, no Rehab completed) - up to 80% of purchase price• 6+ Months (Cash-Out Refinance, no Rehab completed) - up to 75% of appraised value• 0-3 Months (Cash-out refi, Rehab completed) - 75% of appraised value [good rates]• 3-6 Months (Cash-out refi, Rehab completed) - 75% of appraised value [best rates]

It's about finding a situation where you can force enough value to create a 20%+ equity position. 

Would depend on the full situation though if that would be possible.

KS yoak basically made the situation worse.

Had similar situation when I responded to a short sale.