These plans call for six blocks, with buildings totaling 2.5 million mixed-use square feet, and a renovated 14.2 acres of open space with brand-new amenities and improved access.

What you see staying on the market longer are homes that are not renovated asking top dollar or above 

Just go through them, select the renovated/closely matching ones, and enter them into a model.Here's my fix & flip model, you can see the comps entered and some quick stats below them: Then I use that comp data to adjust the Sale Price in the model to what I estimate it will be (double check the resale $/sf is in-line with the comps), then adjust the purchase price until I hit my desired return level. 

Quote from @Marc Shin: I've been working with a contractor on some renovations and they are threatening to take me to court. 

The seller was Steve Yoak from Yoak enterprises who bought the house and renovated it. 

Should I keep it as is or renovate?

@Marc Shin We're funding cash out refis for a lot of our most experience BRRRR clients right around day 91 (to pass 90 days of title seasoning) where we get the process started (appraisal, title, application, etc) around day 60  (plus or minus) when they have the place fully renovated and at least listed for rent (we'll use appraisers opinion of market rent to calculate DSCR). 

@Ahmed MoustafaThe general Fannie Mae guidelines you mentioned are for non-renovation loans. 

The only exceptions I can think of are a lack of experience frustrating your financing process or where the GC has such a well established brand that a buyer will pay a premium for a home built or renovated by that particular contractor.

As far as I understand the most common use case for HELOC is revolving line of credit for large purchases or renovation projects.