You are considered a cash out add if the HELOC has any draws in past 24 months, does it?

MAKE SURE to draw up some kind of operating agreement that includes exit strategy.honestly if you can refi without him just get hard money loan and skip him altogether.

We used hand drawings to scale for one house where another required professional prints.

A very good idea to draw up what your rental tenant criteria is.Income, rental ,and employment history.

For example, if I am to get a HELOC and only pay down the interest during the draw period, will the bank allow me to pay off the HELOC in full without any penalties?

An attorney that works for you specifically draws up the legal documents. 

I anticipate ordering any long lead items as soon as I’m done with the demo.Once I create my as-built drawings, I typically like to build a project on paper and build a schedule before attacking the major scopes.I’m curious to hear what the pros have to contribute.

Either way, sit down with a piece of paper in draw it into four quads.

In general if you keep your share price low you will have a broader base of investors to draw from, can keep more control of your project, and can keep your cost of capital down. 

He would act as our general contractor throughout the entire deal by inspecting the contractors work and then ordering draws to get them paid in stages.