If you send me a private message I'll try to remember to send you the details when it's confirmed. 

Equity loans or lines are nice because banks typically don't have the same reserve requirement (if any) as cash-out mortgages and also no closing costs.

What is your cash reserve plan?

Each additional sale builds the reserve to pay cash and self fund my deals and cutting down Uncle Sam from an almost 50/50  partner to a 75/25 ratio is quite a perk. 

Talk to a few more local banks to confirm that 20% down is not an option.

The neighborhood has good amenities in terms of a moderately thriving downtown area and the lake offers a nice backdrop and recreational activities.Does anyone have any experience with REI in Hobart or any insights to the area that could confirm what I think I'm seeing?

@Gibran Sierra looks to have gone off the BP reservation.

So total project cost would be around $3,000 based on all the sources I have confirmed can do the work this way.

For you to buy as an investor, the home needs to be classified as "Extended"... not "Exclusive", which is reserved for owner occupants.Most of the investors we do HUD homes for have multiple entities...

This would be assessed to you x 7 here ...Do they have reserves?