from those I know the way they got going was to buy a 4 plex when it went up in value sell and buy an 8 when it went up sell buy a 16  then a 40 then 100 extra and you need no partners.. you grow it organically. however of course this is not pay 40k and your instantly an apartment owner..

Tolerance for value-add?

A potential challenge with a HELOCs is they are based on the current appraised value of your home, not the improved value, so you would need to make sure you have enough accessible equity.

Quote from @Nicholas Dillon: I read somewhere that you can request to have your mortgage insurance dropped once your Loan to Value reaches 80%.

THAT is the kind of value Quest gave.

@Zach Denny - I agree - chances are the institutional lender won't be comfortable with an owner-financed 2nd and 100% combined loan to value.

Some pretty good value.  

Each of the 12 condos can sell for, at minimum, $130,000 meaning that the overall gross resale value of the building grows to $1,560,000. 

At face value, if you want to invest in this deal or another 506C deal, you will need to be accredited. 

I would like to maximize value.