We are all entitled to our opinions and viewpoints.I have no problems with DC or any other market.This is a forum, please don't take it personal.Happy Investing.

Speaking from experience, it is precisely as John says, making the work far more manageable for the contractor if a particular phase can be focused on, and with the ongoing cashflow by way of draws it helps to eliminate any potential issues with the guy "running out of money". 

Generally speaking SFH are more ideal and easier to resell and rent in my opinion.

Again, I would speak with your accountant.

You would need to speak with a mortgage broker to see if this can be done via traditional loan.

I'll be speaking with the seller tomorrow, who is already aware and warned me of the issue.

And you speak here of a 10% Realtor commission and a $5K kickback?

I am having trouble because every bank I speak with says the property must be owner occupied to use a HELOC.  

I know typically speaking FHA or VA doesn't do one loan for multiple parcels.I have heard that if it is on the same deed then FHA deal can be done?

Non-jumbo, estimate 86% LTV, seeking to refi into conventional to free up VA entitlement.