As mentioned FB is a good resources.

Using a company to do rent reporting to Credit Bureaus is a good idea to prevent the delinquency in the first place and at least increase leverage to recover the unpaid rent after it has happened.

This will help you to complete larger chunks of rehab at a time while also letting you leverage your cash should another good opportunity for a project come your way.

Good Luck!

In your proposed situation, here is what I would do:1) Make sure you have a good/solid/reliable contractor that can actually do the work and has capacity to handle the project.2) Apply for the max HELOC and get it established. 

Thanks Jackson, good insight!

Good to know.

Keep your time focused on what matters-- quality investments.

A good contractor can give you a best-case, worst-case estimate.

If you need a good HML just DM me.