I had been in talks with a rehabber in my area who uses hard money lenders to fund his projects and we were to be doing a fix and flip this month, so I went ahead and got myself a $10k loan to throw into the mix to cover carrying costs.

I have a friend who does asset/project based lending but only lends on commercial properties, development or land. 

Projects will mostly be in the Connecticut area.

Everyone I have spoken to about this project love the idea.

I think you will struggle to find any lender (besides owner financing) willing to go 100% on a first project.

Secured by the home itself, a HELOC offers a way to use the equity stored in the home at a lower interest rate than many other types of loans.HELOCs can be used for everything from home improvement projects to large purchases, educational expenses, or even debt consolidation/refinancing.

There was a review of the project & points assessed each time you use line.

I just finished an investment project in Delray (www.lavidadelray.com). 

so this project would be worth minimum $5 million..   

Growth is all around the city with new projects announced daily.