The loans generally help fund the purchase along with the borrower's down payment and draws are approved based on the approved rehab budget. 

So back to the drawing board.

There are lenders that will cover 100% of rehab but it will be on draws which means the lender pays you back for the work after the work is completed by having someone go out and check it as well as getting receipts for the work done. 

Permits are not expensive, getting the drawings and engineering are where the money goes.

We have had a project on the drawing board for about 5 years, just had other projects that outweighed it. 

However, rate would be prime + index + an additional +2% for the shock factor just to qualify, but you can draw the funds whenever you want vs cash out where you have to draw all the money after closing.Many borrowers would keep opening lines of credit, assuming you have the equity + income to qualify, as you keep rinsing and repeating the heloc process.

There are no fees each time you draw. closing costs are often minimal, and the rate is similar to a hard money loan.

Before paying the contractor a draw visit the property and confirm that the work is completed in a workmanlike manner.

But if you want to do super detailed drawings and create 3D models, then SketchUp would be the software I’d recommend.

Harrah’s Cherokee casino is just up the road and Great Smoky Mountain Railroad is a draw.