You may need permits for plumbing, electrical, and structural changes.A HELOC can be a flexible and cost-effective way to access funds for a down payment on another property. 

Cost alone not being my biggest consideration.

But they broke contract with me by attempting to get my credit lines increased after I specifically declined it on the contract signed 

I'm a construction cost estimator building my real estate network, and want to offer my experience to the BP forums.I've spent 3 years in residential estimating and 5 years in commercial estimating.

From Cope Equities:"This project is already begun – no risk of it not starting – it already started, a $44 million dollar project ($29 million in costs, approximately).

So, check into that as that may be an additional hard cost you need to factor in.

This was a project that I needed to get done quickly rather than get it done cost efficiently.

Next, figure out how much the entire rehab will cost and contrast it with the possible rental income.

In order to increase cash flow, you might suggest a shorter purchase price or a longer-term financing plan because the house is ready to move into and doesn't require any modifications.

The funding fee increased, but I think that is an acceptable payoff.