@Neil Aggarwal Pretty much all vendors in the industry use "Preforeclosure" to mean the period of time between the notice of default and notice of trustee sale in non-judicial foreclosure, or between the lis pendens and the notice of sale in judicial states (with some state to state variation thanks to things like combo notices).For the period you mention, during which the owner is simply late on their payments, those are called "mortgage late" leads or 30/60/90 day late leads.

After the seasoning period, would you cash-out refi to pay off the HELOC if it appraises for enough? 

They recently gave us 3.99% fix rate , 3 year draw period and 10 years amortization.

Specifically, a more accurate estimation of the cost to finish the property.End plan:5 Units total(x4) One bedroom efficiencies with garage(x1) Two bedroom/Two Bath with four car garageRepairs/Construction Needed:- Complete two bedroom unit already in progress- Build out the four one bedroom units- Pour concrete driveway and lot while leaving the front yard area- Exterior paint and landscapingThank you in advance for any input!

Also how much a property can increase in value when installing energy efficient appliances and solar pv?

You are just paying for it over a longer period of time.

Two people came to the next annual meeting complaining that their tax refunds had been stolen during that time period. 

But you can always change the use after a period of time. 

I am on 10-day option period and trying to resolve the issue (to make it a normal looking house).Blue is current access to garage.

Shop around, most software, ours included, offer a free trial period.