It is no secret that a couple Hedge funds came out and took over at least $100 million in shadow inventory across the IE from Fannie Mae, etc.

@Stephanie Potter, aah; it's just that your product parameters seem very similar to Fannie Mae:-https://www.fanniemae.com/content/guide/selling/b2...

Since January of last year, I have purchased seven SFH's through a turnkey agency and I hope to max-out my allotment of 10 Fannie Mae mortgages by the end of next year.

HELOCs are just products of the individual banks that offer them, so there are no standard guidelines like there are with Fannie Mae loans. 

A. yes, if you use the delayed finance exception you can remove the seasoning periodb. its' a fannie mae product, any lender COULD do this, but many don't know how c. standard residential mortage stips (2yrs tax returns 2yrs w2 tax bills, reserves, etc) d. if you buy it through an LLC you can't use this program, and no you can't get a non-recourse loan for a residential property e. fannie mae investment is 75% LTV for single family homesyou're going to run into problems trying to do this with an LLC, AND the delayed finance exception requires you to use your personal funds.

Search for Fannie Mae form 1003.

Look into the Fannie Mae Homestyle loan.

This is standard Fannie Mae guidelines, so this is not necessarily how HELOCS are calculated, but it wouldn't be dramatically different though. 

In addition, due to Fannie mae guide lines, I had to get residential home owners insurance.

@LEN BALDUCCI Fannie Mae allows each individual to have up to 10 conventional mortgage loans.