I have started renovations (minimal needed, basically paint) and plan to make the property my primary residence and rent the property at fair market value after my hold period expires (2018).

Looking at the Fannie Mae website, I found the following requirements:Cash-out refinance transactions must meet the following requirements: The transaction must be used to pay off existing mortgages by obtaining a new first mortgage secured by the same property or be a new mortgage on a property that does not have a mortgage lien against it.Properties listed for sale in the six months preceding the disbursement date of the new mortgage loan are limited to 70% LTV, CLTV, and HCLTV ratios (or less if mandated by the specific product, occupancy, or property type – for example, 65% for manufactured homes).Note: Properties that were listed for sale must have been taken off the market on or before the disbursement date of the new mortgage loan.The property must have been purchased (or acquired) by the borrower at least six months prior to the disbursement date of the new mortgage loan except for the following: There is no waiting period if the lender documents that the borrower acquired the property through an inheritance or was legally awarded the property (divorce, separation, or dissolution of a domestic partnership).

So VRBO does my calendar, and mentions additional amenities provided as well.You can get an idea by looking on line and looking at properties to see what they are charging, how many days they are vacant and see if you can calculate how much you need during the off period.

Does the long term refinance you've selected require a minimum seasoning period?

VRBO/AirBNB is the short term rental game and I wasn't keen on doing this because SLC to me doesn't seem to be a hot short term rental market.

I haven't had a chance to walk through the properties yet, but I will shortly.

I just took possession just under 2 weeks ago and boy I have learned a lot in that short amount of time (I actually am going to be starting a blog here shortly to share what I have learned so keep an eye out).  

It all depends on what terms he is offering (seller financing is usually amortized over a shorter period with a higher interest rate).  

Are there shorter term vesting periods than 6months for HELOCs?

Do your research and make a good business decision based off of that and hopefully build a strong business model for the future.I rarely have a keyboard in front of me and usually do short replies on my phone.