Sounds like you would still need a conventional loan on top of that to bridge the difference, but it could provide down payment funds. 

Good call on having a tenant provide intel.

Also since equity lines are typically interest only would provide lower carrying costs during planning and construction.

The competitors all provide washers/dryers, some free and some coin-operated.

This is something I can provide, depending on a few circumstances, shoot me a message, thanks!

Providing Ongoing Support:How can I create a supportive environment that fosters continuous learning and growth?

In each scenario I could have obtained conventional financing but chose against. 

I have dozens of BRRRR's in this market and the biggest key to success here is 1 - finding sources that provide consistent deal flow2 - finding a contracting team that is reliable, communicates well, priced well, works in a timely fashion and most importantly has time for YOU.

This way you wouldn't need to provide paystubs, W-2s, tax returns etc. 

The protections are there because beat cops are not qualified to determine who is a tenant and who is a criminal.Just as LL should not provide keys without rent, security deposit, credit check, etc, tenant should not pay a dime without a lease agreement that gives them certain rights.