Use the HELOC funds for another investment strategy such as funding fix and flip projects.

0% down funding is generally not realistic for fix-and-flip projects.

Being that my business is brand new, do I project business profit when they ask for the annual business income? 

Your exposure is any open development or syndication projects that fail if you pass.  

The problems with the project mostly stemmed from the crawl space work, which required shoring, replacing structural members, leveling floors and insulation. 

Specifically, creating a property project timeline for work that needs to be done and when to prioritize XYZ.

We are looking to wholesale outside of our chosen market to help build capital for projects within our chosen market (Louisiana) as I have potential deals in other markets and am not confident in how to proceed with them contractually, (don't want to be stuck with a bill I can't handle currently and also want to ensure I'm operating correctly).

As lenders, well issue a prequal/preapproval letter if we've analyzed your income, assets (bank and brokerage statements to establish that you have the liquidity to afford the down payment, closing costs, and reserves), review credit of the guarantors, review the relevant experience to ensure that we're not throwing our money away on newbies that are wandering around in the dark, and have put together a reasonable plan of attack for the project.

we did that except instead of renovating it we knocked the existing home down and built a new primary. right after we were completed we had $500k in equity as we acted as the GC on the project. 

I lost one once that projected great return because i requested an estoppel before accepting the offer.