Are you looking to pay off the hard money loan, fund another investment, or cover property improvements?

My question is, for a fix and flips, I'm considering financing the whole thing with a HELOC instead of hard money.

The one thing I am unsure about is how earnest money works when you have yet to find a willing buyer to assign the contract to?

Just a note, people think "Hard Money", "Private Money", and "Bridge Loans" are the same.

And I literally started with no money and borrowed the down payment. 

Over three decades, I've not seen a ton of situations where no money down/100% leverage has worked well. 

On average, how much money do you need to renovate a house in Detroit?

thats basic list one can add.Value add /  New construction / land entitlements/ Timber / Minerals/ Lendingetc etc.. far more ways to actually make money than just buy and wait for rental income to payoff debtl 

for movement or settling, 4) Maybe most important because it's so hard to correct...the grading at and around the house.

In terms of a money judgement, I would be much more focused on getting possession back.