I don't want to use up the cash flow to spend and would probably want another 'nest egg' for capital expenses, in addition to what was already set aside from rents.

Hello Everyone, I am located in Killeen, Texas and planning my next investment.

Also don't bank on appreciation "saving you" and you will definitely be spending a lot more than you would think on maintenance.

this  make sense  if you were planning to  refnance  the  1st mtg anyways  ...otherwise  - I would either keep looking for another 95% heloc  or  make due with a  90% cltv  heloc program 

Talk with your local planning and zoning.  

Nik, you have not told us what is your plan for the build.

How many years do I plan on living in this home for?

When we were building our home we wanted to put a circular driveway in and sent thepreliminary site plan to vdot to review and they came back with a lot of comments which led us to not move in that directionAlso whatever project you are considering always assume it will take 2-3x longer to get permitted than you anticipated and you will spend 2x what your civil says it will because they live in La La land and quote it based on the best case scenario with these jurisdictions

But don't obsess or spend too much time on it.  

New Albany is home to several major data centers including ones operated by Amazon, Google and Facebook, whose parent company, Meta, announced plans in the spring to expand its New Albany campus.