The hair on this property was the fact that it was in a trust that had a confusing set up because there was a minor involved.Lesson #2An accepted offer does not mean anything until a contract is signed and a deal is officially closed!

@Robert Aydelott good idea to stretch and broaden your opportunities.If you are asking public officials be sure you are very careful with your questions.

Is it best to order an official appraisal to determine ARV after finishing renovations when applying for a home equity loan or HELOC?

After the renovations are complete, if you decide to hold onto the property as a rental, 99% of all perm debt lenders will require an appraisal to be done on the property to officially peg the ARV value, before refinancing out of the short term debt Hard Money Debt.

Call there bank and references or is there an official way to check there credit or is just the letter enough? 

Account Closed   Splitting the loan and  making a  SFR into a formal / official Duplex  is  complicated / costly  in most  cases ......getting  roomates to  help with income will be  easier and your best bet  ..... fyi -  you  wont be  able to  use this roomate income to  qualify in the  future ..... if you buy a  SFR to begin with -  consider using a conventional loan  so that  you can  use  a  FHA loan for  your  future MF  purchase 

Then you can officially reject that noise

I am excited to officially start learning and working in the field.

I got an agent to send an official offer and he has asked that I get the prequal done- So I am doing that now- I have looked at it and everyway I run the numbers it cash flows great and the CoC starts at 34% at 20% down payment.

The title company should be willing to take anything official - like the document from the bank.