I have minimal credit at this point in my life, ergo a traditional mortgage is most likely not an option for me, at least not yet. 

-Demo kitchen cabinets-Remove all fixtures-Demo old bathroom tiling and fixtures-Have digging/tunneling prepared for sewage line replacement-Pressure wash outside of house to prep for paintWeeks 2 & 3-Complete sewage line replacement-Begin Landscaping design-Replace entire homes fascia boards-Remove popcorn ceiling textureWeek 5-Have exterior of home painted-Roof leaks should be repaired by nowWeek 7-Have new lighting and fixtures installed-Tile Flooring throughout installed-Replace drywall boards as needed-Paint interiorWeek 9-Kitchen cabinets/countertops and island installed-Bathroom tiling completed-Shower doors installed-Detail work inside-Electrical outlets upgraded-Front Door replaced-Vanities/bath fixtures installedWeek 12-Install appliances-Install Fencing where needed(using about 80% of the neighbors white pvc fence as a privacy, will match)-Paver driveway to be completedWeek 13-Stage for marketing photos and open houses-Accept offer at 110% of list priceI know this is a brief run over of the work, but any advice in planning/ executing is appreciated.

In terms of other options, I explored hard money loans and piecing it together by sharing equity with friends and family, but if I hadn't found a replacement for the traditional lender, then I probably would just walked away and licked my wounds before getting back after it with another property. 

Buy smart, buy right and you'll be fine.Without 2 years of taxes for your self-employment, you're going to find it very difficult to get a traditional loan.

I presume I have about 20% equity based on market conditions and comps, but that doesn’t leave much meat in the bone for traditional HELOC.Thank you!

Traditional bank financing with 15% down.

Appreciate any thoughts/ advice since renting out my apt . is a new situation for me, especially in light of unforeseen ceiling damage. 

You will have to be approved to carry two mortgages as well from a lender if you will be doing this the traditional financing way.

Keep in mind the title company will need to keep the lights on and stay in business as well.Two key factors in real estate are numbers and relationships. 

The main difference is that your loss is ordinary, and the most that you can deduct is $3,000.The only time where you will have to submit Form 4797 over traditional capital gain form, which is Schedule D, is when the asset was business-held.