., adding rooms, bathrooms)-Cosmetic Enhancements-Eliminate Health and Safety Hazards-Energy Efficiency Improvements-Major Landscaping (e.g., grading, tree removal, adding walkways)Non-Acceptable Renovations:-Luxury Items-Commercial Use-Temporary Structures-Non-Residential BuildingsBoth of these renovation loans are similar in many ways, but the key differences are:1.

All of that is pretty cut and dry. 

I have a few commercial bank contacts, but concerned they may just cut me out of the deal.

Quote from @Anil Shah: It's unfortunate Raleigh-Durham didn't make your cut of 13 cities but Charlotte is definitely the city to choose in NC if your want the city feel.

What would a fair cut of the profits be?

They can't afford the double deposit, indicating they live on the edge at the moment.

(May also cut significantly into the current cash flow on it)I know you mentioned not doing a HELOC on my primary, but wouldn't it be advantageous to have the ability to pay off the line of credit instead of be stuck in a payment that is much higher? 

If I do this, my PITI would jump up to $3,090, really cutting into any cash flow and the interest rate would jump to 8%.

They cut out all but the best locations and were way more cautious.

You just need confirmation from your broker the amount you would receive from the commission (if they take a cut), if you're your own broker you can authorize that yourself.