Get excavator and a surveyor on speed dial. 10.  

I would bet you money that we are rolling at full speed.....

You can refinance into more traditional loans later, but that initial speed matters.

Often that software will speed things up like crazy for you...might give you the equity number so you're only going after properties with X amount of equity. 

I have investors that I set up loans with private money that only use this method because of the speed.

If you can network and find local players (FB groups, meetups) that could help speed it up

If you work with the same lender that may speed up the process but expect a typical 30+ day closing.

Giving a new monthly payment of $540 that goes back to paying off the HELOC which speeds up the process.

Depends on really what you are looking for:-Speed - some HMLS can go "no appraisal" so can close very quickly and beat cash offers if you are in a competitive market to buy-Interest Rates - can range anywhere from around 8% to 13% (same with "points") but not usually as huge of a concern for flippers since the terms are so short-Leverage - depending on your risk appetite / capital - this is also a top concern for some (almost always over and above rates/fees) can see anywhere from around 80% LTC to even mid 90s LTC (including 100% of rehab budget)

Speed and cost/tax-efficiency are usually mutually exclusive.