I'm a University of Maryland student studying business and about to go into my senior year.

Some of the information above is a little hazy to me so my answer is based on the assumption that you currently have a 390k first mortgage at 2.99% and a 285k heloc balance on your investment property at some floating rate.  

I’m a U.S. citizen who has lived my entire life abroad, but I still submit my tax returns annually.

Yes I flip with my own cash, hard money and private. 

My local banks will only do a heloc on a primary residence.

My father is 68 and looking to retire from managing and owning a 54 unit rental business in our town. 

They gave me a great rate and the only document they ever requested was a copy of my lastest paystub.

In my opinion, that's the best way to get started. 

I'd see about delaying my move 6-8 months....you may see an uptick in sale prices come Spring and get out clean then.

My name is Genita, and I'm no longer sitting on the sidelines of the REI game.