I hate to "throw money away", but I don't want to burn a bridge with the bank either. 

At the next tier up, “exceptional drought”–a status already impacting eastern San Bernardino county–the fire threat increases even more, with the report describing a “very costly” fire season, during which the “number of fires and area burned are extensive.”

It was such a cheap property ($50k), I didnt bother depreciating anything.You could ask your insurer for "replacement value" insurance (Since you probably want that anyway unless you would leave any burned down buildings unreplaced.)

My only problem here is the 300k in mortgage payments burning a hole in my pocket before I have a property locked up, which we know in this market, it is very competitive and who knows how long it could take to find the right commercial investment.I'm wondering if any of you have any 'out side of the box' suggestion on how to finagle this HELOC cash as a down payment without first committing to the locked in 30 year FIXED mortgages? 

Like I said however I have never flipped one completely burned out such as this one nor have I done multifamily. 

The only thing that would make me think twice is a burned out house, I've never done one of those.

Make sure you are properly prepared. it will take even longer to get started if you get burned. 

@Chris Davidson - Thanks Chris, no boots on the ground that is what I'm trying figure out as to who to contact first and how to have trust worthy people and not get burned.

You will burn up lot's and lot's of time.

I found a property that seems like a good deal but this is not something I want to get burned on because I didn't know.