The alternate option I came up with was to remain in my primary residence and rent out the spare rooms to get more cash flow coming my way.

Some have 30-60 days to recover, some longer.You need to check either the laws of the state you are buying, or perhaps as an alternative you can check with either the appraisal district, the tax district, or the attorney representing the tax authority where you plan to live.  

More than half say that the few quality assets available are overvalued.I present the conclusions of the study, Trends in the Real Estate Market in Europe 2017, prepared by PwC and the Urban Land Institute:TRENDS OF THE REAL ESTATE MARKET IN 2017The expectations of investors in the European real estate market in 2017 are marked by the lower availability of quality assets, lower economic growth and lower profitability:It remains a very attractive market thanks to the relationship between risk and profitability, but most respondents believe that last year's profit levels will not be reached.Investors believe that the impact of Brexit will be limited to the British real estate market and will not significantly affect investments in the rest of the EU:To the question of which alternative sectors can be attractive for investors, the most frequent answers are: Accommodation for students,hotels,nursing homes,shared service offices.Germany, the United Kingdom and Spain are the three most attractive European countries to invest.

So, putting aside the variable nature of the HELOC interest vs. a mortgage, wouldn't it make sense to stretch the HELOC to as far as you comfortably could so that you create a situation such that the Interest is deductible against your W-2 income?

This will allow the questions and conversations to come out naturally.

So, what's the new alternative?

Nature and circumstances have created boundaries around good ole MIA. 

If it is natural gas that is.

But he is cautious in nature and I expect him to not move quickly on either front. 

Else, I am going to have to look at alternative options to fund my purchase and rehab.Thank you all in advance