You could borrow some of the purchase price and use your HELOC for the rest.

The fact that you're borrowing it means you're 100% leveraged, more than that actually, since you're also borrowing for the reno.

If you are going to be selling the note follow the 10/10/10 rule10% rule/ 10% interest rate (actually go 9.9% so it’s under 10%) over 10 years.You will first want to get a MLO (mortgage loan originator) to approve the borrower so you comply with Dodd frank (assuming owner occupied) - if not owner occupied skip to step 2.Have the MLO work with the title company on drafting the documents.

In other words, it's a personal favor to you based on your existing relationship, rather than from someone who's savvy in real estate and loaning on the merits of the deal.I don't know of any list or software to tell a good private/hard money lender from a bad, but in general feel free to ask for a track record, other borrowers who borrowed from them and were happy.

The lenders that I work with have not tightening up and are keeping busy for qualified borrowers. 

That's more than enough to really kick start a career in real estate investing.Sit down with a lender or two and find out what kind of capacity you have for borrowing money with $450K cash to put down. 

Germain act requires lenders to make an exception if the loan is transferred from borrower to child.

Thankfully I didn't borrow on that property so I am in a good place.Also I am increasing my cash reserves to 8-10 months of expenses.Money can be made in good and bad markets. 

My thoughts are I will never be able to borrow money this cheap and will be able to reinvest the money to get greater return.

For my portfolio, April did not take a hit from borrowers who were performing.