They had a 4-plex come online and I asked if they would accept financing on it and they said they would.  

Financing is something I’m studying now. 

If it's a good deal they can send out to investors with financing attached. 

Second part of the question, has anyone used a HELOC to help finance an investment property?   

If we chose to convert it to rental, and keep all that money completely seperate from our personal finances, do we do it all in his name? 

You should make an offer contingent upon financing. 

Can you get construction financing? 

30 year fixed, low interest rate DSCR BLANKET loans (put multiple 1-4 unit properties under one loan for cash out or for purchase).Ground Up Construction loans for aspiring developers with NO Experience100% Financing on Fix and Flips (just pay closing costs and prepaid taxes/insurance)Fix and Flip financing that requires no appraisalHELOCS on investment propertiesBuilder's Forwards (for medium to larger developers who want to hedge interest rates on their properties they plan to sell so they can offer "low builders rates").DSCR loans for long term AND short term rentals (I think this is becoming more and more common, but some people have still never heard of this).And so much more!  

I would just make sure that you can qualify resi/commercial financing on the back end so that you don't get stuck in the hard money loan.

Explore financing options 5.