If this is the case then typically you only have to comply when you make alterations.2.

Since it's trust ownership, there are some additional benefits. 

Cash-flow is for "keeping the lights on" as in covering operational expenses to defend against any need for additional capital investment. 

I had many situations where the paystubs was altered or they were using one from someone else. 

I do not see that home prices have dropped 2-3% and this is a lot of added savings in additional to a downpayment if so. 

If that changes in the future, and I really hope it does, I will be the first to publicly alter my opinion and report it out to all of you.

Also had a random thought how it’s interesting that these laws are getting passed by the state and they seem to magically get altered in the subsequent years in very significant ways.

Simple answer - yes you can alter your funding source after putting it under agreement if you chose to use a hard money lender instead - i would just communicate with seller that hey I was going to use cash (assuming you have it from your heloc) and instead will finance some of it but let them know its not contingent on financing.

CA doesn't have an extra $30b/$40b laying around to do that, not to mention the additional billion to actually do the project to be build ready. 

Next, arrange a site walkthrough to pinpoint any additional needs or potential challenges.