Full credit/background check:  Look for missed payments, and any theft is always a no go.2.)

If your asset is older and/or smaller, you may have better luck with local community banks or credit unions.

And your credit will be ruined for like 7 years.

Do you work with any specialty tax firms to help us small business owners get access to R&D tax credits, cost segregation and other specialty tax credits?

If you have equity and decent credit, a conventional Fannie Mae HomeStyle (or the Freddie Mac version) would likely be the better option instead of an FHA 203k loan (which will require a 3rd party HUD consultant to oversee the deal in addition to having the contractor involved). 

Quote from @Argel Algura: Hey Bigger Pockets Community,A year ago I wrote about rebuilding and starting over in life and considering real estate investing as a path (see post here: "Bad credit, minimal cash and starting over in life . . .

lol"Yes, and now YOU-TOO for the low-LOW 1 time payment of just $47,000 can learn all the tips, tricks and techniques to make $1 Bazillion dollars, PER YEAR, with NO-money, NO-credit, NO-intelligence, NO-effort and in just 25 minutes per week from the comfort of your Mom's basement!" 

Does your ad have a minimum credit score above 620?

From our experience with clients, you’d typically expect to pay around $1,000–$1,500 for a single-property return, depending on your situation.If that $6K includes monthly bookkeeping and accounting, it could be reasonable; it could also be low, or high... it all really depends on the number of transactions, bank/credit card accounts, and the complexity of your finances.

This is a good opportunity in a strong market, and with your excellent credit and HELOC funds, you’re in a great position to make this project happen.