HELOCs are typically bank products, not mortgage company products, so they have a lot more leeway in how they underwrite them. i.e. they are not trying to meet some government organization's criteria, just their own.

How are you getting 5.125% fixed for 30 years on a commercial product?

An elderly person was living there so although the kids kept the essentials very nice the rest is a time capsule.

Have a blessed and productive day!    

Essentially, you had your chance to do due diligence.  

Home is a 3/2 1,400 SQFT home on a 8,300 SQFT lot Purchase Price $155k (01/29/16)around $25-30k in rehab and closing cost  Estimated sale price $250-260k Here are some photo, hopefully I can show you guys the finished product but this would give you a great idea of that we've done and the quality! 

I look at it a a hobby and something that will provide me a valuable product compared to any other hobbies.

The 4k I save could go in to those systems; but saving to produce a subpar product is not something I am willing to do; you've got a good point the more seasoning I have the better deal I can negotiate on both ends.

Often you will have paid the general contractor but they may forget to pay the subs.Have written standards that detail what the completed product should look like.  

The other half has a nice,retired, and disabled lady on a fixed income who's not going anywhere unless some unfortunate, sad events happen.I've been living and renting out this duplex for a year now, and its solid, no issues, and essentially turn key.