Not an attorney or accounting or financial advisor, but what I’d do if it were me: I’d remove the children from the deed, finish the HELOC, then create a living revocable trust naming myself, my wife, and my kids as beneficiaries, and transfer the deed to the trust - done!

I understand that rental payments for property owned by my SDIRA account (custodian, not LLC-type) need to be handled in an 'arm's length' fashion.

What is the scenario looking like as far as credit and purchase proce ?

Companies that offer Home Equity Lines of Credit (HELOCs) based on the future appraised value of a home, also known as renovation or construction HELOCs, are somewhat specialized in the lending industry.

Credit score wise, I'm assuming it's null, never having a credit card or an opportunity to build credit when I was in the US.

There is a huge difference in value.Also, your valuation of the value of the structure based on potential rent does not account for the value of land, which you are not providing. 

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The numbers still work great as a long term rental but ever since I ran the numbers comparing the two I realized it's not as profitable as it looks on paper.For context, im in a small tertiary market (Dayton, OH) and most of my apartments are 1 bed / 1 bath with some 2 beds.Is that $300 differential inclusive of taking in account the probable higher vacancy rate of MTR?  

It gets even harder for you and I because we are not local so even the smaller credit unions that I was calling, wouldn't lend to an out of stater. 

Tap your network - should be someone willing to make 2x more than a high yield savings account that you know.