I was considering taking out a $240K HELOC with a 10-year draw period and pulling $160K from it to build the next rental property.

I obtained the umbrella policy through their "agency" which finds other carriers for their members.

I had a similar strategy with my first few house hacks: buy in great A & B Chicago neighborhoods....get by with minimum cash flow, and wait...What's your plan for the next purchase Michael?

San Diego is the best!

Congratulations on the duplex. 

I imagine that the list is short and full of risk.

Quote from @Duane Williams: We’re a family-owned fix-and-flip company operating in San Antonio, TX, and Northern Virginia, managing everything in-house—from wholesale acquisitions to rehab & construction (with our own project managers and crews) to listing & selling through our licensed brokerage. 

I've called a couple title companies there and they are not familiar with the process and one said that the practice CANNOT be done in the state of IL.

I believe after the holidays the other unit will go quickly.What is the rule to refi into conventional loan?

But only for the whole thing.