Although you're totally right, here are certainly concerns about floats and other maintenance issues.

Some will say 10 years but really it's 5 fixed with a float starting year 6.In the larger loans structure of the property and management process is easier and you can get non-recourse and 10 years fixed.

I'm expecting some bright colors and an obnoxious SELL YOUR HOUSE FAST banner.

With current interest rates the "float" on a HELOC from immediately depositing funds to it and paying bills from it when due is not really going to save you a lot.

Or boats.. cars are just something we need .. when you really make it you fly or float

If there is enough room in the loan, then sometimes an interest reserve can be built in whereby the interest payments are collected upfront.The two primary exits from short-term loans are a sale of the property or a refinance as you mention above.Even with loans that are "100% LTC", there is still a capital outlay for the renovation work which is floated throughout the renovation process, and there are still interest payments that need to be made.

I've saved up about 100k because I know I will have to float 30k - 50k for 3 - 6 months and I don't wanna be down to 0 when I have a deal. 

., what metrics are others using besides original cap rates and return expectations to shortcut to a performance point over many years, when all the other metrics are floating around.

Absolutely newbie investors should network, network, network, and let some of that be with us, hehe.An idea I've floated that my broker is "thinking about" at the moment, is for our market center to federate or partner with a PM company, a mortgage brokerage, and a good General Contractor, to make a "Core 4" alliance that would be turnkey to out of state investors. 

Remember that there are many people who rented while they fix their houses (floating population).