We've been in touch with a lawyer already and we're taking our time in the research phase.

Now for the question: in the new tax law, effective Jan 1, 2018, I understand changes have gone into effect regarding the ability to deduct the interest of HELOCs.

To all my insurance agents, Real Estate Lawyers and Experts,General Liability Insurance and Builder Risk Policy are needed during a constructions.

I have many offers on the property @ $1600 and $1500 respectively that i'm sifting through.assuming they don't all fall through i'm in effectively for no money out of pocket and $3100 in cashflow - the mortgage which should be in the 2k range after the refinance.  

One more thing to consider with a HELOC that could have effect on the deal you are trying to use it for.

So what you are saying effectively is I started negotiations within my 45 days identifications period.

Usually assignments aren't illegal but heavily frowned upon by sellers and agents, but check your local laws as I'm not a lawyer.

@Ryan@Ryan Keenan You said that you hired a lawyer.  

If the seller wants their cash back relatively quickly, then a 5-10yr balloon is more typical.Again, as mentioned, ultimately, it comes down to what the seller is willing to accept.Also as mentioned, if you do agree on basic terms, find a good real-estate lawyer or title company to help structure and document the deal

@Pradeep Bhai: This is an emergent legal matter and it makes no sense whatsoever that you're "meeting" with your lawyer to discuss it at some time in the future.