No foundation or any legitimate company will take on your job with the terms you are outlining.

As you complete a portion of the repairs you can get a draw against those repairs, but normally they charge you every time you get a draw (they normally have someone go out and verify the items you want a draw for have been completed, also if they don't know you they may want to see receipts from the contractor that they have been paid).The hard money lender doesn't want to let go of the funds until the money for each portion of the rehab until it is done,,they don't want to end up with no money in escrow and not all of the repairs done.Many times you can charge many of the repairs to a credit card (or at least materials) depending on your contractors.If you don't have any money to your name after you get the deal done, you need to save up before you take on a project, it never goes exactly as expected.If there is a problem with a rehab and the hard money lender ends up getting the property, they either want it repaired exactly as outlined or the cash still in escrow to do the repairsHard money lenders don't require the same credit, income etc as a bank loan or mortgage,,they want to make sure they are covered

If you take the strategy I outlined in answer 3, it would be 2 years before you could get a second loan from a bank.  

Outline where you want to be in five years.

And a really good outline of scope of work, who will do it, what you get paid for and what you don't, assign a value to work performed by each separate from the investment itself.

@Brandon Smith - DM me your email and I can send you a document outlining the "3 Construction Types Renters are Looking For" in our market.

Your HOA Bylaws should outline the authority to lien the property.

In the situation you outlined you would be exercising your inspection contingency. 

If you get these 3 things down and then work through the steps you outlined then your chance of success in the long run are very high. 

I'm reaching out to this group for any general advice,tips, mentorship, or even books that I can become acquainted with to help outline my future with this.