@Khaled Helmi that was what I was thinking. way too much cash floating around if this was true. plus some grammatical errors along the way. 

I am wondering should I float the funds on the HELOC through the 6 month or even 12 before I try and maybe it will cost less or just bite the bullet now to lock in permanent financing.Is there a site where we can find investment property rates like bankrate.com where we can find rates for refi's for conventional loans on investment properties?

I float between my office in Towson or a KW office in Pikesville.

You can also refinance with the existing lender (if permitted) or another lender.Yes, there are commercial loans without balloon payments...hybrid products that have a fixed rate for 5/7/10 years and then float afterwards.  

If you're just starting up do you have the reserves or lines of credit to float you until it's filled? 

Its not your job to float hem or be their bank, you provided a service/value and you should be paid on time, it's their responsibility to do so.

I'm guessing I should float it by the seller first, then have an attorney draw up an official contract, and have that be the binding agreement.

Lets define A, B, and CThere are many definitions floating around attempting to define investment properties.I like to start with the community in which the properties is located.A neighborhood = 95% homeowner or betterB neighborhood = 65% homeowner or betterC neighborhood = All rentersThese neighborhoods could also be defined by the land value, on which the subject property is located.

Here is what I got:80% LTV4.5%, fixed 5 years 6 year total term (2 float years after 5 fixed)20 year am (was going to be 25 but appraiser said 20 year life of building so am was shortened.

My thought is to find a multi-family, float a note for the down payment to him so he can buy the property in exchange for deeply discounted rent.