I’m assuming you’re using the HELOC as a down payment?

Assuming this is a clean file, with no exceptions required, most Underwriters take anywhere from 48-72 hours to review a loan and get CTC, or provide further conditions. 

It may also make it easier for your estate planning attorney to line up ownership with your estate plan, assuming a CA-estate plan if a CA resident.

I went ahead and downloaded GoodEgg's track record to see how they do it, and let's just say it would be easy to assume they had more control than they did on a lot of the deals.All told, if the company website, and the People that work there according to LinkedIn, are not showing any operational roles, they are likely a capital raiser.  

does it impact class of the property assuming everything else equals?

If you do a 506c for example assume to create the PPM, subscription agreement and docs will cost between 10-20k. 

@Greg Kasmer i have not, im a new investor in the commercial and assumed due to my lack of experience it would be an issue

Assuming:40 hours: W2 job56 hours: Sleep21 hours: Basic daily tasks= 51 hours potential REI time💡 Pro Tip: It's not about finding time; it's about allocating the time you have strategically.🎯 Your 6-Month Timeline:Month 1: Foundation (5-7 hours/week)Morning routine: 1 hour daily market researchEvening routine: Deal analysis practiceWeekend: BP forums & networkingKey Goal: Analyze 10 deals on paperMonth 2: Education (8-10 hours/week)Complete 1 RE courseJoin 2 local REI groupsSchedule lunch breaks with agentsKey Goal: Build your initial power team listMonth 3: Systems (10-12 hours/week)Set up deal tracking systemCreate document templatesEstablish banking relationshipsKey Goal: Ready to make offersMonth 4: Lead Generation (12-15 hours/week)Drive neighborhoods after workWeekend open housesSetup automated MLS alertsKey Goal: Generate first 5 qualified leadsNow, the Owners and Brokers you deal with may not enjoy this, but you can certainly "practice" making offers.  

Caring about the quality of the housing you offer and the way you treat tenants, does more for tenancy success than caring about their source of income (assuming it is legal and verifiable, which S8 is). 

I am not privy to the details of that from their perspective, but I would hesitate to assume the policies are the same; I don't believe they are.