Can't seem to reach anyone and clients aren't getting rehab draws.

You'll also want to ask about the servicing process with these types of loans as the majority or lenders are going to be releasing your rehab in draws so making sure that the process to request this is fast and simple will make a big difference in your experience. 

When you reach retirement, you’ll start drawing down from that pile, and you definitely don’t want to touch the principal.

My GC said we only needed a permit for the roof but when I submitted the paperwork for my first draw the lender asked me for permits for the HVAC and the interior work that is being done which is significant.

Or rent for less long term.IF I can make this Lake Front property a successful 30 day furnished rental, it will allow help pay for my parents care in assisted living, and reduce the draw down on their savings (and preserve my inheritance). 

I know this as I am paying the draws and getting inspections to proof it up..  

ARVs with such buildings is notoriously hard to pin down, especially when a major value add is done.

Have a large emergency fund that you can draw on for several months if. you ever are in between jobs (an amount that will cover your side of the mortgage for several months).  

HELOC bank doesn't want their line used as a term loan on real estate they don't have collateralized and the bank that you apply for a loan for doesn't want your down payment to be borrowed.If you wanted to get the HELOC for home improvements then decide to draw on it for liquidity, had it sit in a bank account for a couple months and then applied for a MF loan and used it as the down payment, you'd have to answer no to the question, "is any part of the down payment borrowed".

We focus on nature areas that draw tourists in, so we haven't seen any major changes from STR to LTR.