His credit score is fine but his income is showing too low to get the loan, so I though maybe I could use my HELOC to make the purchase and do a Lease to Own.

I don't think $175/month is good in Florida (or anywhere) for 30 percent down, but it also depends on what the rest of the block and area is like and if there is appreciation scale.

If so thatd be entirely product dependent.

Assessments are dependent on what they were for.

Depending on if you want to use any of the equity from your home to find retirement or if you want that all to be put into the house may also change your strategy. 

Estimated costs range from $500–$1,000 annually, depending on the complexity of their LLC and rental activity.For Partner 2 ($148K joint income, W-2, 1099 income, 1 rental, 2 kids), a CPA is strongly recommended.

I depend on another department as well for answers and I too have to wait," and then asked if I would "be open to an installment of a partial payment?

I just read a new ranking of market ratings and I was not a fan seeing MN ranked 99.9 out of 100 potential score.

For a first timer, you can expect a hard money lender to provide 70-75% of the purchase price, and 100% of the renovation budget, depending on the after repair value.

A lot of this, 3 & 4 especially, is geographic-dependent.