However, getting returns that match the S&P in real estate is not exciting at all.

At best they get draws based on how much of the job they've finished. 

My rate was fixed but if I needed more money I'd need to pay down the balance then if I draw more it would be at the new higher interest rate.

One thing I’m not able to find, is if I as an owner can take draws from the company and if there are any restrictions.

However, the total will be about 979k so need 500k (980k-479k) to pay off previous hard money and interest and then use the remaining 366k to finish the rehab which will be taken in draws from new lender

Use the title company or closing attorney to draw up the contract, amortization schedule, and file the lien.

The area continues to draw all kinds of people, including people willing to live there and be part of the cool part of Tampa.

Most around my area and the ones I've been calling will only offer 70% occasionally 75% for investment properties and again these may be subject to commercial terms and rates with shorter draw periods.

The city gave me 3 options: 1) return the unit to a garage, 2) get an architect or draftsman to draw up the building plans and then pull permits, or 3) get a structural engineer to "stamp" it and say that it's up to code.

Ask them how they work their draws, by inspector or by an app, ask what their draw fees are.