Their terms for HELOCs on Non-Owner Occupied Homes are listed online, but terms for me were 80% LTV, 10yr interest only draw period, 20yr repayment. 

@Wouter Erwee there are options out there, but they will exclude the siding and any pollution claim that comes from the siding. 

We haven't even received the drawings back from our builder yet.

The city is requiring that we draw up new plans and do new inspections.

The purpose for looking for a HELOC opposed to a re-fi is the flexibility of pulling money out in draws, and the low fee structure compared to a re-fi with closing costs and greater points. 

With $150-250K in unsecured business credit lines and cards, you can: Buy investment properties Borrow the down payment to combine with a normal mortgage Renovate properties Expand your lead generation marketingYou draw on the credit line, then pay it back at your own speed.

If you are further away from primary draws, especially in walkable areas, than your comp, knock down your rent. 

We've already begun the process so I haven't gone to a lawyer to draw up any official agreements but we do have an agreement he created outlining the profit split. 

Even though FSBO  draws less ready crowd than a MLS crowd (remember, hot market here)  I certainly don't want contingencies that could fall apart and if they have another home to sell it would have to be on the market before I signed a contract.

Interest only payments for 12 months and rehab reimbursement through draw payments.