And if this is the plan, it couldn't be announced at onset.

I'm currently planning to purchase a commercial multifamily building in Chicago with the proceeds of a 1031 exchange.

Most of the time I do the BRRRR strategy and I have scaled to 9 doors now, one of which I'm planning to flip.

The plan was to have the properties completed in 6 months make some money and be on our way to real estate riches.Turns out a lot of the framing was rotten and we had to completely reframe the back of one of the houses.

Like Jay said, often, new construction does not go as planned.

If you are accredited, the best thing to do would be to invest 50k into a syndication and soak up all the knowledge of how it works from an experienced operator before you make the decision whether it's your plan.

Just keep in mind that using that emergency fund to buy your next property and having tapped a HELOC already may leave you in a bad spot if you run into a similar problem again.Also, I’m not 100% sure, but I have heard that personal loans don’t your credit more so than other types of debt so be sure you look into that if you go the personal loans route and then planned to finance your next purchase soon after.

If I have several options, I would prefer a HELOC with no initial draw requirements (i.e. to establish a literal line of credit that I have no specific short term plans to use), i.e. not something like the better.com HELOC. 

I’m trying to keep things moving, but this $20K requirement is throwing a wrench in my plans.

So if the homeowner saves energy or goes on a long vacation, they still get charged 100%.