Raise the $600K, do the pre-development work, then “sell” the property to NewCo.  

When we purchased it, it was fully renovated and set up as a 5 bed/1 bath Airbnb.

Custodians do exactly the same thing but with the added regulatory and financial scrutiny noted above.

I'll check it out Also, I did a call yesterday with Todd Crippen from Turnkey Property Group.

It's good that you have two ideas to start with.

I will go over with my realtor for the exact comps to see if it's worth it.

Would anyone care to recommend a bank, credit union, etc that will do a HELOC on an investment property?

Do you have an idea of what your time horizon is for your investment plan?

I would focus on credit, consider some alternative options to "free your Benjamins" out of your home, or even consider doing a partial sale of your home to give you capital to get back at it!

Please clarify whether it's a HELOAN or HELOC, thanks.