Like @John Chapman points out, we often don't realize unforeseen problems or mistakes for a long time.  

This is a view shared by the chief compliance officers of the IRA custodians we utilize, as well as several other knowledgeable professionals in our network.The risk is that the IRS, should they decide to scrutinize your activities, could look at the situation one of two ways, depending on how they view the facts and circumstances, and also likely the skill and mood of the investigator:Here is a trustee for a plan executing contracts on behalf of the plan.

However, circumstance has us not able to move into the new home until 6 months later.  

15k down payment + 3k closing costs + 5k unforeseen repairs= 23k.

I'm familiar with what closing costs are...the point I was confused by was the numbers in the original post as not much was mentioned about the $10k difference.In either circumstance...congrats on the sale and profit.

@Mike Howard Absolutely check with your attorney first, but I would see about doing a down payment or option to buy just do not under any circumstance call that money a security or rent deposit as it will fall under the security deposit guidelines.

I am in agreement that I'd rather do it "right" than "cheap"- it seems that in just about any circumstance, cutting corners only hurts you in the end when you find that you've stepped over dollars to pick up dimes.

Or other situations where you had the intent to hold but circumstances changed and you had to change your intent in less than that time.You're starting off at a disadvantage because your main gig you want to be flips.  

And I know it is frustrating, but without knowing your unique circumstances nobody on this site can give you a definitive answer.

My question, given the circumstance is there a better option than a heloc I should be looking into for financing?