From what I understand, first, they pre-approve me for an "umbrella" loan, up to a certain amount (let's say, $400k).They will then set the money aside for the duration of the project, and "draw" money from that reserve to pay for purchasing the land + improving the land (leveling, prepping city utilities...) + purchasing the prefab.

@Josh KindratWhen I did my recasting, I was not able to change the duration of the loan.

one question I have is how did you manage to get multiple conventional mortgages in short durations, didn't it doing the credit score ?

With a HELOC you would only be paying interest on the equity when it is in use (think like a credit card) vs. a refinance or purchase mortgage where you're paying interest on the principle balance the entire duration of the loan.Just do a HELOC.

This is especially true if you are developing infrastructure and are trying to do so with debt.Risk can be hedged by doing things in stages, but this also increases the project duration.

There is always different catalyst, different severity and different duration. 

Having 95% of the staff working from home for an extended duration is a BIG hit in productivity.

Pay extra each month to lower the duration of the loan. 

@Mehul Patel Rehab duration = 6 weeks Current rent = $1625After rehab rent = $1750+The unit would be ready to rent by mid-October aiming for a Nov 1st move in date.My thought on waiting to complete the rehab is we have 2 other units in which both leases expire in May of 2021 that will require roughly the same degree of work.

based on historical performance, investing in the appreciation markets have been the better performing investment, over initially better cash flow markets, for long term hold durations.