In the case of a short sale, I believe the borrower has to approach the bank with your offer and the time frame could be 6 months before the bank will answer if they accept your offer.  

@Basit Siddiqi Yes, there are selling costs associated with selling inexpensive and expensive homes.

There should be timeframes for the lien to be enforced and brought to court otherwise it just goes away. 

Meaning if you use your HELOC  as your checking account then you don't even need to make extra payments, by using the HELOC you end paying less because you're throwing bombs to the compounds interest every X time frame in order to decrease the accumulation of that compound interest.

If this were my deal the sale price on a triplex would likely be around $900k, so if I bought the land for $150k, and my build costs were about $500k, I would expect my interest and carrying costs to be about 10-12% of the total of that, so lets say $75k, for all in expenses of about $725k. 

(End of response)Clearly it’s past that timeframe, so I’ll reach back out again soon.

Good question, I think the biggest question will just be your overall timeframe and how quickly you want to get everything done. 

If you need to explore other markets close that's not bad, CO is pricey so it will be a longer timeframe to reinvest unless you do flips/BRRRs to recycle capital @Caleb Brown  Yup, I'm close to swapping the empty lots for a tenanted new build. 

That would be about a month.This timeframe may vary among institutions, counties and states.

And you stay legal with time frames, notices, etc etc.