It's an expensive bridge to value add, flip RE, or close on a deal all CASH.

This approach allowed us to move quickly and efficiently, ensuring the project stayed on track.

You will need to read your ICA, Independent Contractor Agreement to see what happens to your pending sales and referrals if you leave before they close. 

My question is.....do I have to buy/close on the property before the June 11th auction? 

A heloc is an open end mortgage or in simple terms its a high risk credit line similar to a credit card that sits in 2nd lien position adding another trade line to your credit and reducing DTI.Just like a credit card if you ever miss a payment on any debts on credit or if your scores drop unexpectedly they bank can close or reduce your line of credit.

Now if I could only find more funds to close bigger deals!

If you want to BRRR there are lenders who will offer you a hard money loan that converts to DSCR once your renovation is complete (and it will save you some money in origination fees staying with same lender).

This approach allowed us to proceed quickly and efficiently, ensuring the project stayed on track.

The answer is probably simple and I apologize but my brain isn't fully functioning after staying up all night running numbers. 

This approach allowed us to proceed quickly and efficiently, ensuring the project stayed on track.