J Scott I've got to say the quality and depth of your responses are the major draw of BiggerPockets.com for me!

Make sure you have a lawyer draw it up.

Also, the housing market finally starting to come up and be on par with the rest of Ontario and when we looked at drawing the equity of the 4-plex to purchase a duplex in Kitchener, ON, we were surprised to find out that the building had almost doubled in evaluation.

I have a general idea regarding pros and cons but would love insight into the actual process and steps that I need to take to pursue this type of deal.Resources regarding drawing up terms and contract offer?

I have a general idea regarding pros and cons but would love insight into the actual process and steps that I need to take to pursue this type of deal.Resources regarding drawing up terms and contract offer?

We provided drawings and were told  that we needed more of a setback for the fence from the sidewalk.

Hi @Ryan Scott Isacksen,My firm would naturally 'hit' you with the minimum monthly HELOC payment in your DTI, but there is no seasoning requirement.So if you had a HELOC that you needed to draw to $100,000 for the down payment and it was at 4% interest only, we would do $100,000 * 4% / 12 = $333.33 and put that number in the "debts" column of DTI before we divided one column by the other. 

Right now, I am hung up by the expensive cost of architectural drawings.

Back to the drawing board mate.

But the moment I was locked in and started the rehab, it became extremely difficult to receive draw request.