Lower immediate cash flow and higher mortgage payments would extend the timeline for paying off properties and add interest over time.In essence, it’s about balancing risk and speed.

With the HELOC and then converting it to a term loan you will probably be paying higher interest and/or shorter amortization period on conversion which will mean higher monthly payments.

This is advantageous bc later you have a third party loan (not your personal money) so seasoning period is 90 days to DSCR out. 

VA Loan – 0% Down (Veterans Only)If you're a veteran or active-duty military, you can buy a 1-4 unit property with 0% down.Must owner-occupy for a period before renting out.4.

.- Over a 10 year period cashflow will increase as rents increase (rents typically rise faster than property taxes, insurance, etc.)- The property should be appreciating, if purchased in a good location, increasing the owner's equity/wealth.- Rents will be paying the mortgage off, increasing the owner's equity/wealth.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

I've seen many landlords that get lucky with good renters for a long period of time, then everything falls apart when they have to deal with real difficulty.I looked up your property on Google Maps, and the street view looks bad.

Work with your attorney for what is needed to insure all subcontractors get paid by the General Contractor.Make sure the insurance covers Construction period and also materials.Talk with your Commerical insurance agent and they should address the above questions with you.If this is an older facility make sure your engineering firm has covered Fire Suppression systems and any Storm pond or drainage systems. 

We are wondering what would be the best option to do with the property during this 6-7 month period, whether that be Airbnb or what other short term rental options might there be that could make more sense?

Only extended exposure to your preferred market allows you to have this clarity and understanding about a property’s long term potential.

After a grace period of 1.5 days give another notice and mention legal action or law enforcement5.