I would do a HELOC, because if you don't want to take the money out you don't have to pay the interest, on a home equity Loan, the full amount is going to be advanced when the loan funds, and you will pay finance charges on the whole amount.We do investment loans on new construction, Typically we can do 60% of the land costs, and up to 100% of the vertical construction, not to exceed 85% of the Costs.Thanks,Dustin

If it's working as an LTR and you are cash flowing, I'd be willing to bet that the juice won't be worth the squeeze in converting them to STRs. 

You only get a single point of contact for everything all encompassing, and unless they are 100% competent(not even proficient) you are screwed.

Even possibly self managing.

Our bankers are more than happy to loan money.  

Now I just want to ask any of you out there would you build in my position or invest that same amount of money?

These are all things you need to do some homework on and figure out.In terms of BRR and flipping.Flipping makes you more money now.But BRR gives you the opportunity to invest, recoup your investment, have heavy depreciation tax write offs & build a portfolio which PAYS YOU IN YOUR SLEEP.You only have so much time to work, but the need for housing will consistently increase as our population is outpacing or supply of housing year after year.

if so, what would be the best way to get the money to fund this without having to do partnerships?

You only get a single point of contact for everything all encompassing, and unless they are 100% competent(not even proficient) you are screwed.

Would it make sense to save up money to buy something cash, finance, wait for market to cool down, etc.