-you don’t have to pay interest on a large fixed sum of money until you find or are ready to pull the trigger on a deal-it allows you lock in some or all of the amount at a fixed rate so your protected against rising interest rates ( given the current market conditions I believe we will see a couple more increases from the Fed this year which will increase borrowing costs for any variable rate products)- See this attached article that does a good job of simplifying it https://www.investopedia.com/mortgage/heloc/fixed-rate-option/

@Robert SapienzaIt is a dilemma lower interest better terms most likely but less asset protection.  

I know buyer protection is important but if I’m able to secure a property well under market, it would be worth the risk of not having a realtor “protecting me” throughout the process.

A military base with a critical mission, something other then a depot or staging/housing, and a 4 year state public college, so you get that government money from student loans coming in.

You need to protect your self against this now.  

Expanding upon Ashish's desired asset protection comment, this is very important.

I want to structure the partnership correctly so that everyone's assets are protected.

I've been taking a real estate investment course available through my public library and the low rates of success for renters was presented as a way in which this is a solid investment strategy.

If you have a contract with the seller and cash to close ; it should be an easy quick file for them to work to ensure both sides are protected.

Suffice to say, the deal is off and the bank is going to begin foreclosure process and most likely open bidding to the public I reached out to the bank, and they mentioned I could potentially “buy the note” from them so at least I could secure the property for my church.