If certain months get tough (repairs come up, tenant turnover, etc), you know you have the flexibility of being held to a smaller payment, than you would on a shorter note.  

Seller is flexible and motivated.

Thursday-sunday or two weekends Saturday and Sunday. even allows for flexibility if you miss a day you can take that day during a different schedule. 

For me personally, I like flexibility, so I would have tried to find a loan with no prepay or maybe a one year pre pay.

FSBO properties can be alot more flexible when it comes to financing an investment property.

My goal is to use my HELOC to appear as a cash buyer offering quick closing in hopes of additional flexibility on price from the seller.

I would recommend one where you get in front of people and or one that is flexible, or works with your schedule.I have a full-time W-2 position as a case manager.

I am close to qualifying for the hard money part to make the initial purchase, but am not quite there - also trying to keep my finances somewhat flexible. 

It's just my wife and son, so its makes it a little more flexible as oppose to a family of six.

However, if you have special turnaround/value-add situations such as very low occupancy, significant rehab, unusual situations, etc. then sometimes you will need to first go through another flexible lender and then perhaps refi into a Freddie/Fannie loan.