If you take a cash draw and set it in another bank account to season, this cash for down payments may be looked at differently. 

I'd for sure have an attorney draw up the agreement to meet Washington laws or that will cause problems later on. 

I agree that, IF you can get a HELOC at this point, it's best to draw it out and put the money where it will be liquid in the next buying cycle.

Hi All,Looking for a reasonably priced architect with experience in drawing plans for a brand new 4-unit we plan to build right away in Hollywood, Ca.

Or do we need to make him a 1% owner and have him not take a draw/salary until we grow our business.Would love to hear your thoughts and if you have recommendations for people to reach out to.

Also, the standard plans were not designed with a strong eye toward value (e.g. making smart decisions about construction cost), which is why we prefer to offer our own pre-designed plans which we can readily customize to a given property...typically $5000-8000 all-in for the design work, construction drawings, title 24 energy report & electrical layout, & permit processing... not permits themselves, those usually run another $3-5K)As far as approval speed... pre-approved plans from the city/county are expedited, though in some instances the pre-approval queue is just as long as the standard queue.

My mistake was to use my home HELOC to purchase the investment property then subsequently refinanced my home and closed the HELOC.

@Beliria Sims - When I first started my own firm, I established systems for the company (filing system, book keeping, specifications for each trade, draw requests, loan packages, etc). 

Can I draw on the current rental for sale Heloc, prior to sale and use for new home deposit?

Who draws out your purchase agreement?