Being able to "afford" it with cash so easily was a draw.

And if so, it should specify when you give draws and when the work should be completed etc.

However, the more I look at it, the more I think I have to go back to the drawing board.Here are a few details..I do not own my residence.My income at this point is fairly low.

I don't have a problem with renting or working with family, but you'll want to draw a contract up to make the boundaries clear.On your brother renting vs not, I think it matters what sort of financing you use and how you structure the deal. 

From the application process, through the end with the draws, I was quick to respond to their requests, and provided highly detailed documentation on my draw requests.

HMLs do their own comps, maybe their own appraisals, review your budgets/scope of work, and conduct their own inspections on draws (when they fund the rehab) to ensure that the contractor you're paying is actually doing work that adds value to the house. 

Once you lay out your long term goals and work backwards, you'll be able to pin point the property type, location and ideal property condition for your first deal.If you're considering Central Florida - Orlando, Tampa, Kissimmee, Lakeland, etc...  

Go talk to a lender and see what you can get approved for and then if you get shot down, then you can go back to the drawing board and get creative. 

Pentagon Federal Credit Union (PenFed) does non-owner occupied HELOCs up to 80%LTV at a 4.75% variable interest rate - 10 year interest only draw period, 20 year repayment period.

What you need to do is to draw up a partnership or JV agreement that sets forth the investment percentages and income splits.