of course this is a correct description but lets talk a bout reality.very few loans for most investors will be non recourse unless they are very large loans but the average under 1mil loan 97% of the time will be full recourse unless the lender is not ready for prime time.

When I was stationed in Northern VA, high costs had me stuck until I sold my Corvette to meet my DTI ratio and get a condo using my VA Jumbo LOan—one of my best investments.

@Kevin Rodriguezif you take out an owner occupant loan, then you do; talk to your loan officer for more details.

The terms on the loan may not be in your best interest. 

Unlike traditional bank loans, private lenders offer quicker approval, fewer requirements, and the ability to customize loan terms to fit the project.

I think it's just brokering loans to them.  

Quote from @Clint Miller: Anyone here in the community used construction loans to scale their development projects?

My biggest tip is to save way more that you make and then buy a 2-4 unit building and use a 203k or homestyle renovation loan to do some rehab and add some instant equity.Also, Network as much as possible and get comfortable approach any one and asking lots of questions. 

If you are planning to pay the HELOC back after each flip but then draw it right back out to buy the next one, you will have a loan balance most of the time and a refinance might work just as well for you.

Rather than that, if a loan is called because the property underwent a condo conversion (apartments into condos) or subdivision process without the lenders awareness/approval, would they still be required to offer a preforeclosure period before being able to foreclose, as is the case for lack of payment?