The first project we ever flipped was only a couple blocks from our personal home.

Consulting with a zoning attorney is advisable to assess the feasibility of your project and guide you through the necessary procedures.Hope this helps!

@Rocky Gibson how much are you needing for your future development projects?

I’m sure they aren’t advisable on larger projects but depending on the project size and complexity, they worked great for me. ~$650 for the study. 

I know as the Lender, I always have the option to modify things but the NoD helps set the stage if the borrower doesn't act or respond in a way I feel is beneficial to getting the project across the finish line and me my capital back.     

If you are going to be active, and have high conviction in a project with a clearly defined entry/exit strategy then using a HELOC is one of the better sources of capital.But, I continue to have my stance that, on average, folks who use a HELOC to fund the down payment for long-term investments will eventually find themselves in a situation where their portfolios drain their personal financial situations, rather than fueling them. 

For small projects and so for the vast majority of sophisticated investors, the DLT is years away.

This helps them close quickly on properties and fund projects. 

I am under contract for purchase of my next project but then I am stuck on that deal and not able to take down another deal without more capital.

Also, we had a number of people migrating to Michigan for short term projects in the area, so that kind of helped.