You are still going to have holding costs and a heloc will just have less holding costs that you would if you were doing a personal line or hard money. 

Ask for higher security in person have them back out on their own if they still want the place you will be safer with more security

what kind of investment was/is this  a little more detail may protect others if you think this person is a financial predator.  

Some owners expect their PMC to actually be a personal assistant:(How did you set expectations for this client when onboarding them?

Then the person is soured on gambling on real estate and not around here to answer questions. 

My personal example is a one bedroom condo I’ve held my entire adult life - and this is in a top tier market - Dupont Circle neighborhood in Washington DC.

I enjoy hearing about peoples’ personal wins and innovative, creative strategies.  

Your personal history with GSE's is notified across all GSE loans, they communicate.

Little did I know it would take decades to ripen :)3. bought a foreclosure sale .. traded the house for the 3 acres the person who owned the house. 

Quote from @Jason Baker: I’m A 11th Grader And I’m Committed To Being A Young Real Estate Investor After HighSchool...Just Trying To Seek AdviceThe average person who went to college carries $40,000 in debt.