It had the assumptions of the deal, the development budget, info on the historic tax credits, a proforma for the apartments, a proforma for the commercial space, info on the returns, etc.

You just need to take this into account when buying. 

I had checked with most of my local banks, big banks, and credit unions and they seem to all say that they only offer HELOC to primary residents.

I have zero debt and my credit score is 778.

It emphasizes the importance of accounting for every element of a project, including contingencies, financing costs, profit margin, variances, and unforeseen expenses.

Best practice is to have equity that you can sell if this happens or you are positive your W-2 income, good credit and equity position will allow you to refinance fast to another lender in the future if this happens.

I am a long-time listener and lurker through my husband's account on here, but I wanted to say "hello" and formally introduce myself as an individual as well!

Is there an order in which you would apply for these loans due to credit inquiries?

I am still trying to learn the bookkeeping/accounting side of it so that my CPA won't scream at me come tax time!

Considering credit and experience, liquidity requirements for some investors may be higher than for others. 2.