To remedy this for next time I am in the process of creating a design board that can be used as a base for future flips.

I am a real estate broker and property manager based in Clarksville, TN and I specialize in working with investors.

I am based in Edmonton, Alberta.

Based on my reading and understanding I'd like to form my LLC in Wyoming. 

Most lending is based on cashflow, not the 2% rule (although still a good rule of thumb for some types of investments), might have the most help from the group if you provided some of those details here just so it'd be easier for us to help you best. 

. $360k equity (based on your estimated loan balance and estimated transaction costs if you sold, this is not calculating capital gains taxes but that would reduce your equity down to about $310k if you sold without doing a 1031 exchange). $8k cash flow (this will increase over time because you are in an appreciation market). $6k principal pay down (based on your current loan). $20k appreciation (based on 3% which is conservative, 4-5% is the historical average).

Thanks for touching base and let me know if there's room for collaboration on any of your projects or just willing to share lessons you've picked up along the way.

Generally yes a HELOC will go off your personal finances so qualifying is generally based on your income, liabilities, and credit. 

Hey Jon would recommend checking out FB groups if you aren't local (looks like you're based in the Bay).

Purley asset-based lenders are most likely going to be hard money lenders whose rates are typically going to be much higher.