That's what we do...business HELOC on property #1 provides for cash offers and rehab, then sell house at end and repay, rinse and repeat, or you can rent out and refinance if you prefer to hold. 

However, he also knows exactly what I’m looking for and will often run interesting scenarios by me that are just as unique as I am.

YMMV and your state laws may be different, so consult an attorney, but if you privately took the heloc out on your residence, then you, Chuck Dangar the person, are a private lender and should draft the proper paperwork, complete with repayment terms and interest, and then lend the money to Chuck Dangar's LLC, assuming the LLC is buying the property. 

Hello BP Family,Apologies in advance for the lengthy post, but I have a rather unique opportunity at my fingertips that is a once in a lifetime opportunity and I'd love to get as much advice from as many savvy real estate investors as I can. 

@Fili Aguirre just understand the interest is higher on a cash advance..u must be disciplined in repayment and all record keepingIt's Genga u must pay attention to the little shifts

Sounds like it's working out quite well for your family, and it seems like a unique house given the sheer size. 

Maybe this is a unique local term. 

This way you don't have to repay back anyone and you prove to yourself you can do it on your own.

i assume they would add that repayment amount into your monthly obligations to calculate DTI?

Vegas is not unique.