Also here are a few "never do's" to help you understand the risk: Never do deal if the property can’t be valued properly (no comps no deal)Never do a deal without a third-party escrow Never assume the third-party vendors will not make a mistake (deals take longer then planned, watch out for scope creep)Never do a deal without property insurance Never do a deal on owner-occupied (there are laws that can get you in trouble here)Never do an unsecured loan

Now from my understanding of "unsecured line of credit", it's much cheaper than Hard Money.I'm in the process of forming an LLC and with a personal credit of 790+ and some liquid assets, how do i take advantage of my good credit to establish a sizable line of credit to fund my future deals?

Looking at what liquidity you have to service the debt and how you've handled previous unsecured facilities of similar size are what's important to us (my bank, that is). 

I already have a few unsecured cash lines.   

@Joe S.The solar panel company will not release the lien because it’s secured by the propertyThey release it and go unsecured then the loan could be wiped by a bankruptcy

Unleveraged real-estate generally rents for less than 10% of value, and then there's management fees, repairs, and taxes to consider.

your mixing two things together  One you say he wants to sell you the house and the other you say U want to put a loan on it.you wont do both.Easiest way and safest for you is to simply have him deed the house to you.. since he is a friend you do a JV agreement.you put up the money to finish the rehab.. which probably cant be all that much.. and then when the house sells you as the seller just net out how much you put up and the profit you agree to.. he gets the balance as a unsecured loan on the hudwe do this often.. if for some reason he goes dark on you.. you don't have to foreclose and you own the home.. so you know he is going to be motivated to get it done so he gets his dough..

These tend to be unsecured and/or to unsophisticated investors which, to me, is gambling.

In our instance above, we used an unsecured line of credit to purchase 50% of two relatively inexpensive properties in the U.S.A.

I took the time to call back the guy form the REO dept, thanked him for his time and professionalism, informed him I had secured the property properly and he need not worry that I left the property unsecure.