The remaining funds will be utilized as repair reserves ($25k) + cost of design and improvements to the commercial property ($345k).The company is offering shareholders a 40% profit share in this project.

I'm not sure it's right to assume the investor has a better sense of design or better tastes then the builder.

I'm confident in my ability to flip a house while working full time because of my experience and knowledge of design, construction, and general contracting.

Since it's the lender's own money, they kind of design a loan with an end user in mind. 

You can cash out to buy 100 pairs of designer shoes if you wanted (but gosh please don’t).The HELOC qualification process is just like a mortgage.

Lightning is one great investment also since you can buy knock off versions of designer fixtures at fraction of the cost and with the right decorations they can really make good impressions.

Apparently renovations within the district are subject to review and regulations to confirm the remodel conforms to authentic standards of design and workmanship.

I haven't worked with them but the principles live in JC and I recently came across one of their house projects in Bergen Lafayette which was pretty impressive in terms of design/build and budget.

For a beginning investor, instead of designating the amount laughable, you should figure out how to make that amount work for you. 

We don’t have any kind of designation on the deed, but......that seems it is just a “description” made in the deed by the seller and buyer, and would have no affect on the legality or permitted use.