.$30KClosing cost around $10kBrought to the table $10,901.Mortgage $1,225 @ 3.5 % 30yr All in cost me around $35k out of pocket. ):---------------------------------------------------------------Rehab to move in two weeks * Paint whole inside + basement*Gut and repair bathroom*Remove glass/mirrors one wall living room* Replace/Repair range over stove/exhaust* Dispose of all garbage.

You will be required to pay mortgage insurance but in the right market a few years of mtg insurance is considerably less than an additional 16.5% downpayment.  

Still and all, it was emotionally exhausting just 'not knowing' if we would get there in time!

Use the refi first, after that's exhausted think about the Heloc.

We want to recoup our losses (we'll be exhausting our savings) so we can have ANOTHER down payment after a year or so.

Once you have the inspectors report(s) you could talk to a contractor about bids, and draw up a budget.And that's would not be an exhaustive list.The fact you know so little about this, means this large of a renovation will be more risky for you than for someone who has done it successfully before.

And it isn't that I don't want to do that, or couldn't physically do it, I could force myself but if I am already barely absorbing what I am studying because I am always exhausted then getting less sleep would just make it worse.

All my friends still in the tech space spending hours a day on video calls are exhausted and uniformly say video calls are more taxing than in person meetings.That being said, there are many times when quiet uninterrupted time to focus is required. 

This cost us significantly less than an actual security deposit and in this competitive market this may be a good tenant incentive. 

I would much rather depend upon a limited liability company that I created than an insurance company created to collect premiums and deny coverage.