For the S Corp, what is its purpose?

I have plenty of clients who manage long distance and around the world. 

I provide the 3115 and 481a adjustments for my clients and their tax professionals with the cost seg studies.

The strategy involves using the HELOC for a flip to generate fast cash, reinvesting profits into long-term rentals, or exploring alternative ventures like short-term rentals or partnerships.

The terms on the debt look good.

In addition to the Chula Vista bay front redevelopment, South Bay also has the Brown Field expansion.  

If everything goes right I will be able to refinance and will have created 25% equity, or I may end up having to bring $10-20k to the refinance to get the 75% LTV depending on the appraisal, but even if that's the case it's still a great deal.

And we add the cost of the W/D into the rent, so any units that make it a little more than 1.5 years are profit.

Do you have a perspective of the strategy you are going to follow?

With the HELOC, I think that will still puts me in the black about $125.