Almost everyone here on BP will tell you that they wish they had started earlier, myself included.4.

My numbers are kind of tight on cash flow due to a blanket loan (had to do to pay off lots of debt/rehab). 

Therefore, it's vital to calculate these costs before purchasing the property.Seeking the help of a 🏗️construction professional is recommended to create a comprehensive budget that includes hard costs (materials, labor), soft costs (architectural and engineering fees), and contingencies for unexpected expenses.

There are investment property HELOCs but if a true HELOC (and not a DSCR cash out refinance), the HELOC will be underwritten by your income and debt to income (DTI) ratios. 

I'm trying to figure out a structure that would allow me to essentially pocket the $100K rather than applying it to debt.

The junior is going to go to say at full debt at $100,000.

Almost everyone here on BP will tell you that they wish they had started earlier, myself included.4.

That does NOT change your personal liability for the debt.

I am working on my 1st rehab, which also includes purchasing construction material from Home Depot. 

Conduct due diligence to uncover any potential legal liabilities.Overleveraging: Excessive debt or aggressive financing structures may leave little room for unforeseen expenses or market downturns.