@Nicholas I too took advantage of the cares act,to invest in RE.You can take up to 100k if you have been affected by covid,w/o the tax penalty.I was furloughed in March that was my affect.If you are still employed or furloughed you may also be able to borrow and pay yourself back with interest.I love it because it’s pretty quick turn around if a deal comes up.My company changed from an employee owned company to not and we received a lump sum for our esop.I lost 21k during the switch over and decided I would never lose money that I didn’t have my hands on again.I control my investments now and wouldn’t have it any other way.Best of Luck!

Heloc processing is now more complicated and it may impact your borrowing limit if you close and borrow.

We made nothing on the appraisal and the borrower paid using the link sent directly from the appraisal management company (AMC).Adding the layer of independence using AMC's has only driven the cost of appraisals up. 

The bank doesn't care how much you borrowed from the hard money lender (you may know that but I think it's worth pointing out.)It doesn't sound like you've actually found either a hard money lender, or a traditional lender for the refi yet.  

I am paid by the lender not by the borrower, so there are no broker fees in your CD.  

So, you may have to go the conventional rehab loan route as a non-owner occupied borrower and include the studio construction $$$ into the loan. 

That way you will only borrow the amount you actually need and can leave the rest of your equity alone.

There is specific verbiage HUD requires in the purchase contract to protect the borrower and disclose some of the 203k contingencies to the seller.

I understand the less cash to close but if you are “borrowing” the 10% extra in cash costs you more principle and higher interest where is the break even point.

We were planning to use funds from this account to purchase another home, but the lender is having an issue with us “using borrowed money for the down payment.”