There are still a few that will give you a loan but the traditional 90% of purchase price and 100% of rehab might not be possible without an exception.

whats traditionally referred to as "DSCR" loans are not going to be eligible in non-state territories unfortunately

Our issue is income on papers too low to qualify for the an FHA or traditional loan.

Dan, Investment HELOCS are extremely hard to achieve considering they are not DSCR underwrites. they are more traditional conventional qualifications.

Reason why is because FDIC Bankers "Do Not" charge points on traditional programs like primary homes, standard investment purchase and refinance, Second home/vacation homes.Lenders, Brokers all charge points to meet their Loan officer compensation plan (commission).

(For context, it's a 2700 sf 4 bd 3 bath house in an upscale Northern California suburb.)Kitchen A: Traditional, features a 48 in fridge, 36 in cooktop, window sink (no view), pantry.Kitchen B: Designer, features a 60 in fridge, 48 in range, large kitchen window (no view), sink facing living/dining room; unfortunately no pantryKitchen C: A Little Bit of Both, features a 48 in fridge, 48 in range, sink facing living/dining room, pantry, unfortunately there's no window.Total countertop space is roughly the same (22 ft)  in all three layouts.

If this were my property, I’d run a detailed rental analysis (from what I’ve read in Forbes) to see if the short term route could outpace traditional leasing.

I talked to my lender contact and, as Kerry mentioned above, it's pretty uncommon that a traditional lender would offer a HELOC product on an investment property (non-primary home). 

These properties appeal to students and low-income renters, especially if traditional housing is limited.

If not, I'm guessing it would be treated as a traditional rental loan, either conventional or DSCR, using market rents rather than the rent in the lease agreement.