A bonus question, I have other rental properties with large equity in them, can I apply HELOC now (for backup) while applying the TIC loan (suppose to close escrow in 30 days from now)?

Family first places your investment plans on a back burner.

As a backup find properties that would cash flow on Long term rental to if regulations change.3.

And that was just the heat in the garage.I would look into using Mitsubishi minisplits with electric baseboard backup.

Based on that, I stood by my offer and wrote a letter to the bank explaining why, using some of the comps as backup.

Unless you have a backup, (hard money, family, friends, bank loan) I would suggest you look for a property either on the MLS, or a pocket listing, or another route.

I am not yet in a deal with a HML, but I have started the pre-qualification process for a conventional lender (this is my back up strategy in case the flip doesn't sell or I like the home so much I want it for my own.)  

I would start reaching out to your friends and family as backup for the $500k just in case.

Having the appraisal is better backup for audit purposes, if you really want to cover yourself.This holds on other assets also, like a long held stock portfolio, lots of capital gain in a business or classic cars, artwork... so generally when anyone has the chance to inherit, it's usually better to inherit directly, rather than to let the probate sell everything and distribute cash. 

Canada may become less dependant on the US and build our own industry back up as well.