LOC's are more often tied to primary residences as collateral (called HELOC). 

But you learn to cut those ties real quick because as I said, nobody likes to waste time.Just my 2 cents for what it's worth. 

, plus the opportunity cost of having your funds tied up in the meantime, especially if she decides to file BK.Also, if she's a friend (or even just someone in your social circle), be honest with yourself about how likely you'll be to actually foreclose on her.

Will this push you away or make you stronger? 

Not a rule/reg, but I would wonder whether the repairs/rebuilds from the fires still have contractors in Ventura tied up. 

I'm using OPM to purchase and rehab properties and when all is said and done, I can usually own the properties with a mortgage, none of my money tied into it, and I cashflow from each property. 

Home Possible is 95% LTV, as compared to FHA's 97% LTV, but with the added benefits of beginning with a conventional loan (no mortgage insurance for life of the loan, as opposed to FHA), having a stronger offer, no self sufficiency equation, plus less strict standards for home condition that can kill the value-add ambitions you had with your FHA.Recently there were other changes with this program that makes it an even better product, and the only person on this whole forum who seems to be catching it is @Chris Mason who has written about it herehttps://www.biggerpockets.com/forums/517/topics/42...and herehttps://www.biggerpockets.com/forums/49/topics/609...I just wanted to point that out as you get into it because if I hadn't found this product I'm not sure if I'd even have a house hack right now.  

Partnering or any level with an experienced investor with experience would obviously make me a much stronger candidate for a commercial loan but any and all feedback and analysis of the deal would be greatly appreciated I've attached the BP rental property calculator analysis to this posting ?

It puts me in a much stronger position if any legal challenge ever arises, though some might argue that it's overkill.

I'd be tying up a good deal of money for 6 months so want to make sure at the very least I'm getting my money back.