Had some other capital expenditures and am a little lean on cash and want to borrow 40-50% of it's as-is value to finish the flip, but everyone wants it in LLC and I would have to pay transfer tax to do that.

Portfolio lenders tends to make underwriting decisions in real life sitting around a table as opposed to letting computers calculate borrowability for them, and most of them won't lend to non-local borrowers.

That was followed by the state of New York declaring that certain borrowers in the state could forgo their mortgage payments for up to 90 days. 

Hard money: “The Pros and Cons”ProAll CASH TransactionQuick Closing Times (<14days)All “Rehab Cost” are covered in LoanLower Leverage for Buyer and more LiquidityFlexibility to buy Distressed and Value-Add PropertiesLoan based on Property and underwritten so Borrower is ProfitableDoes not show up on Credit ReportNo "DTI" (Debit to Income Ratio)CONHigher interest rate than BankShorter Repayment Schedule (<12 months)More conservative evaluation of the Property’s ValueNot doing your research and working with a “Bait and Switch” Lender Real Estate is one of the most dependable and powerful ways to grow your wealth.

To borrow from a venerable quote: If Cuomo helps out landlords, I'll eat my hat.

So basically only the property is evaluated for the loan, not the borrower's income and expenses.

Or would it be better to borrow the REHAB COST from a bank?

Basically with the HELOC you are borrowing money from yourself and paying interest on how much you are using.

The borrowers couldn't afford the properties, but the properties were never worth the mortgage on the property.

Uhhhh Anyway, he said that if I remember in 2008-2010ish the banks stopped lending so if he needs to borrow something the time is now!