They are extremely thorough and very clear.

I have worked extremely hard to raise almost $6MM for a commercial project in Southern California.

.,.....assuming you can get at least a 90K  heloc - you can then  use  whatever amount of advances  you need   for  * down payment on rental * rehabbing  etc even though the heloc rate will be higher than the rate you can get on a cash out refinance - the outstanding balance that will be on the heloc  is realtively small  and thus  this rate  concern isn't that large

@JohnPaul PachecoYour question leaves me a little concerned that you don't really have the knowledge to go into this an be protected.  

Again, everything has a value.... but be sure to put a big enough value on your time/effort when dealing with the city/legal/code side of things.As far as multi being different that SFR as far as the BRRRR strategy is concerned. 

Any concerns of the distributed nature of the apts?

@Ken Vance, I'm extremely familiar with WP, just looking for a lease option contract I can use with sellers and tenants here in Virginia.

If you are still concerned, get an umbrella liability policy and/or move the property into an LLC.

.$1484 monthly cashflow5.66 cap rate.I'm new and one of my biggest concerns is mortage rates right now are around 3%.

I think you're talking about an extremely Niche' market.