Account Closed, can you get an equity line on your existing house, use it to buy a new one, pay it off from the sale of existing house?

Hey everyone, looking for advice.We have owned a condo (3/2) for 10+ years and the market is now favorable for selling.We have had two full price offers both of which terminated during due diligence due to subtle structural damage, moisture, and rusting on the old cast iron pipes under the common building.  

I have seen the 50/50 split from equity partner, and that is what your lender is. 

@Daniel M Gibson sticking to fundamentals and your "gut" is always the best course.Unlike 99% of the investors on this site, my take is that investing for cash flow is a bad idea...it creates a jaundiced view of how things work...meaning that investing is about controlling assets as wisely as possible...not immediate cash flow.I use seller carried loans routinely because I'm in for the long haul (and I don't need rental income to survive)...as long as the purchase price makes sense, I could care less about income...the concept is debt paydown and future equity.

After it's built and we have renters in place, it will cashflow enough to pay the entire mortgage plus some.Also, the home has a tremendous amount of equity and will be even more after the ADU is built, not to mention the newly finished walkout basement.

This means you'll probably lose at least $10,000 a year.You don't say how much equity you have in the home but I would seriously consider selling it, even if you have to take a loss.

Inflation will play in your favor over the long run. 

If I have partners I guess I could always use them as the POF base in stead of myself.I understand not being able to list the contingencies for a land deal but its really as simple as saying "Due Diligence" and then when the number don't work out in your favor, once the DD is done, you simple say the numbers dont work and you get to back out with your full EM payment?

agent myself and investor, I've seen plenty of agents avoid listings with low commission and FSBO, so you may be able to do a 3%/2% split in favor of the buyer's agent.

This won't be a problem because I already have 15% equity and expect that to grow over the next three years.