ET says no employees period, even if part time. 

@Austin TessMany lenders have a seasoning period (typically 6-12 months) before you can refinance.

The property was leased for $2,150 per month.Refinance and Return on InvestmentAfter a stabilization period of 6 months, the property was refinanced to leverage the increased value created through renovations.

If My father and I use the heloc to fund the repairs; I'm concerned to have payments on a heloc as well as giving up all the cash flow for a period of time.

My advice would be is to talk to multiple investors who have real world, actual success-based experience in flipping over a sustained period.

In our experience, things move in ebbs and flows and the speed of rental depends on your asking rents relative to competition.For example, there was a period of several months at one of our properties when a 3 or 4 BR unit came on the market it rented almost instantly. 

Cap rates have gone from 3.37% to 5.18% over the same time period.

It's working out ok other than some latent defects the seller hid from me and my inspector during my due diligence period.

Think big picture.Consider all the benefits of the investment over an extended period of time and get started!

The DST sponsor takes about 2% on the front end as well.The hold period is generally 2-7 years.