Besides setting aside $400/unit, how much cash will a bank want me to have on hand or available? 

@Daniel Brown Yes, some banks will HELOC based on your tax assessment after the house has been “seasoned” lived in for 1+ year.While this would save you the $500 appraisal fee, it likely won’t benefit you in this case.You want a formal walkthrough / appraisal.

The banks here will not finance assignment fees.

Also it was really cheap for commercial with a local bank. 4.15% 25 year.

If not it might be worth looking into going to another bank or CU that does have a promotional first year rate to open a new HELOC with.Some other advantages or disadvantages of the HELOC could be that you wouldn't have a draw schedule or fund control requirement that you'd likely have with a construction loan, which can be laborious.

I am particularly interested in forming banking and broker relationships but love talking real estate so I am happy to meet just about anyone in the BIz. 

I have very little problems landlording despite @Jay Hinrichs admonishments that I should be the bank and not a landlord.

I was working with a local bank and they were offering a 20 year am with 15% down.

Hi, I was looking for options regarding the RTO strategy, when the the bank appraises the home at less then the agreed upon purchase price at the end of your lease agreement?

I met with a local bank last week to see about doing a cash out refi.