What I mean is, some investors look strictly at cash on cash return, some look at cap rate, others just want to make sure their mortgage is covered.

I do have reserves to cover contingencies.Let's just say, I'm satisfied with those numbers.Had I had to use a bank, I would have had to put down 20% for $33,000, plus closing and my payment on the remaining would be $1400 PITI including HOA. 

Covering this with my salary is relatively comfortable.  

Living in one side and renting out the other will help cover your mortgage, and after a year, you can move out and keep both units as rentals.

How will the partnership cash flow cover the HELOC payments if interest rates increase?

Real numbers- purchase 907k,rehab , closing costs, soft costs, 840k, all in 1.747 mil, basis for each unit should be roughly 291kappraisal of each unit minimum 400k , so 2.4 mil if for all 6.I might refi only 4 out of 6, that will cover initial loan amount.

Our insurance has been canceled on this home and we are working on getting insurance to cover when this current one ends.

Such deductions could result in substantial refunds, providing critical financial support during a challenging time.Residents may also explore disaster loans or grants offered by the Small Business Administration (SBA) to cover damages or losses.

So, I am indeed getting monthly payment from my buyer that would cover both monthly mortgage payments and also provides me interest only payments on the difference between the sale price and mortgage payment. 

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.