They'll confirm the ARV and current values (you want that BPO/appraisal), make sure you have the right insurance in place, ensure title is clean, etc. 

@Jay Hinrichs - you are correct especially in non appreciating markets.

What I would advise you to do (since it’s a tourist area) is look at peak season vs. non-peak season rates and occupancy.

Busy commercial brokers do not have time to pull tons of comps for non clients.

Can anyone suggest a lender in the metro that will do a HELOC on a non-owner occupied property?

LOTS Of fake lenders work BP  face book linkdin etc.if you cant find anything on them I suspect you may have run into a fake.the telling clue will be1. rates too good to really be true or lower than industry norm2. too quick to approve you..3. they want a modest deposit up front and give some BS reason why the want it.4. no website ( although many fraudsters have generic websites website alone does not mean anything.5. check on licensing.. there are only about 12 states that require licesnes. not sure about our state thoughBut I would say 95% if you cant find anything on them.. and any of the things I said above are what they are telling you,, cheap rates small up front deposit.. probably not real and you will just lose your 500.00 bucks or whateverOh the other great one is you have to buy an insurance policy because your new or a little weak on the financial side.. there are NO insurance policies for private loans if you fail to pay.. that's just another fraudulent payment to a non exisitant entity.real estate lending has become the new Nigerian prince scam..

I’ve come across a couple properties that have flip/wholesale potential but they would need to go through non traditional financing.  

I don’t want to do anything to it other than cleaning it up.

We could share expenses such as cleaning company, property management, supplies, etc. 

You may want to do some direct mailing to non-owner occupied duplex owners - these are usually the best deals because they cut out the middle man.