But those same banks stuck with me and allowed me to pivot and build up my new construction side using bank debt intead of HML.. etc etc.

Quote from @David Sam: Hi, I bought my first investment property ( new construction  SFM) few months back.

Plus Loyola with all its new construction.

I do see many investors incorporating a similar strategy with new construction builds, heavy rehabs, or in instances where the property was bought far below market value (usually a wholesale type transaction).

Then your best bet are probably community banks which have more flexibility (albeit worse terms) than larger banks and also worth looking into are DSCR lenders.

This is after all construction in Los Angeles, if you've never done it before add 50k.If you have $500,000 in cash I suggest you use it elsewhere, this years long headache is likely not worth the 1000's of man hours you will also have to put into it running your very own team of scientists.

No requirement to be in the inner circle other than to get the 100% funding up to 65% of ARV, otherwise it is 90% of acquisition cost + 100% construction costs up to 65% of funding.

This allowed me to get a construction loan to repair the other buildings and repay my investment into the property.

We helped him with a Couple ground up New construction Rentals and He Can use The two property's as new construction experience but not us, this is what had me perplexed.  

I would say for most people, the 1st position heloc is no a good bet, especially if you have a 1st mortgage rate of less than 5%.Using this strategy with a 2nd position heloc can be just as powerful, so you can have your cake and eat it too!