Offer is the standard PA contract and has a mortgage contingency with $300k loan price.

Is it a non-standard window?

The property cash flows, but CoC is not to my standard (10%+).

Cities like Harrisburg, or Lancaster, PA are great examples with very high standards of living and much cheaper housing prices than you will find in Philadelphia or DC.

The Standard 203k has a min of $5k in rehab and the max loan (including rehab) goes as high as the FHA max loan limit for the area, which for Houston is $331,760 for 1 unit, $424,800 for 2 unit, $523,450 for 3 unit, and $638,100 for 4 unit. 

Or can I use a standard template from the Internet and then have it reviewed by an RE lawyer?  

@John Teachout that is our standard practice as well, doesn't matter if tenants move in on the 1st, 2nd, 15th or 30th.

One thing I personally dislike is that the master closet, which is your standard 5' wide closet, houses the water heater.

This is a good time to start bringing a team of professionals on board to help keep your project cost effective, completed to the proper codes and standards and completed in the shortest time possible.2.

My standard answer for being asked the reason for the HELOC is "upgrading the home".