A supplement to that claim won't matter as much. 

Due to the bank financing and overall nature of the deal, I'm thinking this is more of a HELOC property than cash-out refinance.I'm getting caught up in calculating my usable equity after the rehab is complete and my property value increases.

I have an old buddy that sells for a developer out there and I’ve been in contact with him as of late, so naturally he is optimistic about the area but I want to make sure I'm doing the proper research.

Im sure given the nature of COVID right now, its hard to get random people to live with each other - thus not a lot of room rentals in the area

The market will naturally slow down as we head into low season (winter months).

They are for homeowners only.It's been awhile since I've looked at one Tom but I seem to recall the policy being limited to property improved with a one to four family improvement with the insured being a natural person. 

I'm not looking for handouts or anything of that nature.

Multiple heads can account for multiple rooms.More expensive option but a good fix would be replace the current furnace with natural gas forced air.

Home has natural gas, walkout basement and about 75 feet of frontage.

While people may not need to be located here for week, people still want to live in the Bay Area for the schools, nature, weather etc.