@Matt Gregory the main element I would ask you to think about here is that a HELOC is designed as a temporary loan. 

Cleaning - you can still negotiate a package deal with the cleaner (if we give the contract for cleaning both buildings, we need a discount).

You can pull down a marketing package from loopnet or something and base your hypotheticals off of that. 

The assumption package provided by the current mortgage holder is fairly straight forward except that it states we need a "sales (assumption) contract between seller and buyer."  

@Jimmy Dudley  its sort of depends on where you live and closing customs.for instance on the west coast there is no such thing as a wet closing.. or having all parties come to the closing table.. simply never happens.so when we sell something here I usually go in and sign ( if I want to I can also just have them e mail docs and I sign and they send a courier to my office.. )this is done 2 to 10 days before closing.. then the buyers come in the 3 days before usually because they have their 3 day right of recession ( owner occ mortgages)  then the loan package goes back to the lender.. then the title company has to record in the morning.. and has to send recording numbers to the lender then the lender funds.. then the next day once this is done title company will cut checks or wire proceeds.. for us 100% wires we never get checks.. its always kind of comical when I am sitting in my office in Oregon closing a deal in some east coast state and the closing attorney sends me an email with the time of the closing and wants to know if that time is good for me like I am really going to be there..

Hello, I am looking to get some direction on the possibility of one of the loan programs geared at larger multifamily units such as HUD Fannie or Freddie but for say 10 duplexes all bought at once 'as a package' for say 1.5 million.

In my opinion the package is worth around $600k and this should give you a 9-15 cap of repositioned correctly.

My experience has been, these "First Time" or "Income Restricted" Loan offerings by various State and Local Agencies are all done through a Typical Lending Company (Mortgage Banker / Mortgage Lender) that has qualified with the Agency(s) offering the program.For Example, if you met the criteria for a "Texas Vet Loan", and were qualified for the program, all the processing and workup of the Loan package will be completed by Blank (Generic) Mortgage Company.

I would love to hire an architect and have a site plan/ review completely laid out and tied up in a pretty little package but that sounds like money that I either don't have or am not willing to spend at this time.

I prefer small multifamily or package of rentals.