I’ve not run into time stipulations with the HELOC, but maybe things are different everywhere.

More favorable landlord stipulations.

I know there are stipulations with this.

The invoice is itemized and contains dollar amounts all right under the threshold for seeking my approval (language in PMA stipulates approval for 'any one item over $300).Furthermore, the PM decided to take all of the rental income from my second SFH (the owner's draw was, by sheer coincidence, within a few dollars of the line item invoice) to pay for the unapproved repairs, replacements, etc. 

What stipulations are ideal for friend/family investors?

In a wholesale deal, your end buyer comes to the table with cash and the only hurdle is having the ability to pick your own title company (your offer would have to stipulate to pay title costs) so that you can double close the transaction as Ryan mentioned.Ryan, if one has the luxury of having cash to buy and the cash buyers to sell to, then REOs are just fine.

The only stipulation to that was he will only quit claim it to me if I let him live there for the rest of his life for free.

The purchase option agreement will stipulate a fee the tenant/buyers will pay for the right to purchase and will require a deposit be remitted.    

I strongly recommend that you consider engaging the GC using a GMP contract.A GMP is a Guaranteed Maximum Price Contract in which the GC quotes the maximum you will have to pay for the execution of the contract documents.There are refinements that can be added to stipulate things like a cost savings split between you and the GC to incentivize the GC to produce savings.Under your specific circumstances I would NOT execute a cost plus contract for GC Services.

Or give her a qualified life estate now with her paying the mortgage as a stipulation.