I don’t want to trigger a large deposit into my bank account during the loan process from him, so can he just pay my heloc directly is all I’m asking.

Don't be afraid to pull the trigger on your first deal as long as the numbers make sense.

You can start looking now for a property, if the numbers are good enough to allow you to pay the early lease termination and still make a reasonable (for your standards) return, then by all means, pull the trigger early, if not, then that is additional risk to the deal. 

I would make sure you understand those numbers well before pulling the trigger.

SF deals with great numbers are more readily available and will allow you to take a breath before you pull the trigger. 

A silent partner who is in it for a profit and you are in charge tends to trigger the security issue.

I refinanced my home with intentions of purchasing another, but, I am wondering if while the economy is still goodish (i.e. no recession yet), I should try to pull the trigger on developing my own lot.

I never pulled the trigger on it but I might pop back to get updated rate quotes from them just to see if there was a drop in the last 30 days for Commercial rates.It's anecdotal but wanted to give you some recent experience from someone in the same boat, just not an LLC.

Suddenly those people found their retirement savings cut in half, their home values dropped dramatically, and their stable jobs gone.Those lines of credit dried up, and banks weren't lending money. 

They wash up nice, dry pretty fast, have a crisp feel and don't wrinkle as much.