I moved from L.A. via Miami to Waco a year and a half ago and was amazed at the real estate market I found here.

I really want to make sure it is done correct and not half assed. 

The bank or lender holding the Heloc can and will close your line of credit or cut it in half with zero notice.

When I go to my credit union for a commercial loan there is no junk fees, no origination fee or maybe a half point origination and a better rate.

We happened to already have an RV hookup with power/water/sewer, plus a small bathroom building nearby that's about 10x10 split in half, one side with a toilet/sink/shower and the other with a washing machine. 

For smaller jobs, half makes sense.

Half of sponsors are now getting crushed when the going is getting tough, and those previous track records don't really mean much, compared to the things I list above.  

Your refacing number is quite high and you should be able to get new cabinets and countertops for half of that price if not less than half. :)Are you making your place a long term rental or short term?

The first phase or about half the lots will be short term gains with the possibility that the second phase may qualify as long term gains.

Finally, he leased the property (actually about half the property) to a tile distributor.