The reason it's attractive to do now is that there are some reasonable unsecured home improvement loan products from the MN CEE (Center for Energy and Environment) that I can use to finance the adds since we currently owner-occupy the property.

I am looking for a recommendation for a company that does unsecured personal lines of credit to speed up my  growth rate in my flipping business.

The broker is quoting me a 6.25% variable interest rate for an interest only $250k unsecured LOC with 7% closing cost.  

@Kenneth LizIf you are doing the work and the repairs are under 15 grand I would find a way to borrow unsecured money through a famIily member , personal loan ,or a line of credit .

there are not any lenders that will provide a HELOC on this scenario ….try  contact the present lender / servicer  for options on the current loan …….you might also contact you bank to see if they can provide an unsecured consumer type loan that  is better than what you are paying now

@Nick CockrellCan you get a unsecured line of credit for that down payment instead of the partner ?

I have nothing more to add to what you already know or Joe has said except that I wouldn't let sellers dip into the security deposit for two reasons: First, you now have an unsecured unit and even if (s)he's a model tenant, when (s)he moves out you're going to eat a cost that you could/should have been able to pass on.

My income proforma shows that  I can get an unleveraged IRR of around 9.3% (11.6% when leveraged at 50%). 

Furthermore the dog will never be outside the home in a situation where it is unsecured or unsupervised.I can't think of anything else. 

If you have a tax company and real estate that is paid off, you should have no problems getting an unsecured line of credit.