The time to do the reverse is when people using low down payments (ie 5%) to buy it and loans that require you live in it. 

Is this a common thing most DSCR lenders can do? 

Are any veterans already doing this that might suggest elsewhere ?

Find out how to do this first.

Or do you need cash and therefore looking at doing a HELOC to get it?

What company(s) do you use?

I've heard of instances where I've seen the investor do well long-term and some where the investor has been able to build and sell or just hold and eventually sell if new developments are coming up in the surrounding area. 

The sad part is that these poor returns don't even have to do with financing costs which will be an issue in the future this is simply poor performance by inexperienced operators.

Check with your city/county zoning and planning to make sure it’s zoned for what you want to do.  

To keep it short, just from knowing him as a friend and knowing the level of success he has, I already trust him enough to put money into his projects, but I know I should be responsible and do my due dilligence.Essentially, a big project right now is a cabin in a very busy vacation spot that is going to be about $2m.