I want to open up the HELOC to have as our emergency fund so I can deploy some of the cash we have saved up right now.

There is an $80,000 assignment fee so we ended up paying a bit more but our only down payment towards the building looks to be 30k.

The market really tightened up in the last 3 years where they were better options. 

@Mac Macaul I'm always up to grab coffee or lunch and talk real estate investing!

The financing contingency period is up tomorrow and it looks like they are going to back out, so I guess we will put the property back on the market as a cash-only purchase and see what happens. 

It is basically a brand new house from the foundation up.

The neighborhood was up-and-coming, and the property itself had solid bones, but it required a vision and some elbow grease.

Make sure you are very up front and transparent about the transaction and your intentions.  

I live up north where it regularly gets down to -20 degrees.

My question is do I have to pay the title company who has done all the work up to this point?