we did the first 3 in a 18 month period we used internal funds so no debt.. these were 350k to 400k all in projects.. so U need cash to be a spec builder or you need investors if you dont have cash..

Almost every reputable lender is going to have a draw process for any lender funded rehab portion. 

Hopefully in just a few years the cash flow can help fund your Primary rehab and enlargement.

Almost an impossible way to “get started” as you’re going to need full purchase price in cash on hand or a HML willing to instantly fund you. 

I turn the tables on the wholesaler calls.. if i can get past the telemarketer and get to the owner I then explain to the owner how I can fund deals for them..

What’s the timeline for using the HELOC funds, and do you have a plan to pay it off within that timeframe?

Toxic waste site on Super Fund List  6.

For active investments I advocate considering how you can diversify WITHOUT ceding your competitive advantage nor the superior profitability of the niche your in.As an example my business is running an investment fund and syndication high interest commercial mortgage loans secured by income producing real estate. 

@Collin Luckett  Just adding, if you have the ability to fund with your HELOC, it would be far cheaper than PML or Hard money. 

May be worth it to check with a cost segregation company (depreciation) and start scouting property management companies.Someone smarter than me could probably tell you about taking a HELOC out to fund the next investment property in TN.