That's about as much leverage as I want anyway.As far as HELOC's go, I'm assuming that most people want to lock up long term fixed rate loans, not have a ton of floating rate debt at whatever point the worlds' lenders ascertain that the future US govt cash flows available to somehow repay the spiraling debt and unfunded liabilities (a mere $100T or $1M per household), are woefully and absurdly inadequate.

Not every property qualifies for this type of financing as certain distresses wouldn't pass and the appraisal has to jive.

I would like to do something like this in an effort to ascertain an off grid IL rare unique property.

A forensic loan audit is the examination of a loan from the time of application (and can include letters, say to provide a certain rate of interest to intice a borrower to make application) and related documents, called source documents to ascertain compliance with applicable rules, regulations and laws.A forensic audit is not necessarily done by an attorney, and usually not unless they have an accounting background.

All I'm trying to ascertain is: Does a short sale *mandate* that a buyer come up with all cash for the amount acceptable to the bank?

The exact number is difficult to ascertain because the government does a good job hiding it. 2.

I would first look to the terms of the agreement creating/defining the class of equity to ascertain it's rights.

A Surveyor can ascertain exactly where you are in relation to the flood plain, by doing what is called an Elevation Certificate. 

It's unfortunate that you were mislead with the taxes but that information is public info that can easily be ascertained.

Terminate this Contract by written notice to BUYER and, at SELLER’S option, either retain the Earnest Money as liquidated damages as SELLER’S sole remedy (the parties recognizing that it would be extremely difficult to ascertain the extent of actual damages caused by BUYER’S breach, and that the Earnest Money represents as fair an approximation of such actual damages as the parties can now determine) as provided in this Contract, or pursue any other remedy and damages available at law or in equity.