Thank you Rahul,Delayed financing requires two closings, but it gives you the bargaining leverage of cash purchases while recovering a bulk of your initial capital and providing funding for the rehab. 

You might be able to offer them close to asking price if they will contract with you for a no or low money down situation.

You could close out your HELOC and try to get a new one but I am sure your rate will be much higher.

One of the reasons I have been successful in rehabs is because I have my projects lined up before I even make the purchase and then the work typically starts the day I close on the property.

Plan on 65% LTC, at least one sponsor/borrower that has done a similar project in the past in terms of scope and dollar amount (inclusive of if you add a new partner willing to share in the risk/reward), 10% post-close liquidity (can't use loan proceeds to check this box), net worth equal to or greater than the requested loan amount not including subject property in net worth calculation (adding the other sponsor/borrower can fix this, too).

Account Closed Thank you🙏

The turnaround time to close was super quick.

I am close to Cleveland.

I bought six 1980 doublewides from a park that was closing and paid $500 each for them and that was just to be able to keep the washers and dryers. 

This could get you the cash you want and save the commissions and closing costs to sell the property and buy a new one.