With a HELOC, you have no extra expense (some HELOC has annual fees, but they are low - like $100 - $200 at most which is negligible) unless you actually pull the cash out.  

Plan B in your pocket,, tenant might not be able either to move out early.. you can ask but be prepared to offer more than just the prorated rent for a few days...and to have a moving truck for a few extra days yourself. 

Does the same usually apply for both?

In this case, economic value will probably be around $1 150 000 which means they will finance 75% of this amount and you will have to cover the difference meaning you'll have to give an extra 130k in cash down (320k + 130k = 450K).

If the personal guarantee and they want to close down your location you got them usually.

like me, alot of investors, especially out of the area investors/ rebab/flipers, want to structure something above and beyond paying a contractor for his estimated repairs, (or to an agent for being a project manager for the completion of the rehab above basic selling commission for relisting)  but something to incentivize the deal, like a part commission above and beyond a certain net; offer this to an agent or GC to put extra attention to the deal to completion...you can call this anything you want, a team member, a sweat equity partner..it doesn't matter..but I certainly want to offer a "part" of a deal above and beyond...and repeat with that person...it is a good feeling...and Im out of the area, and if any action is to be taken, I will be semi dependant on somebody to care above and beyond the norm... - from zero experienced flipping guy, matt..

How many usually attend?

As a non-owner occupant, if you don't have a flood insurance policy, you will only be offered SBA loans (based on eligibility/qualifying) unless some other special type of relief is created that is not part of the usual programmed relief.

Getting your real estate license can certainly be worth it, you can get access to your local MLS, and perhaps you can earn some extra income being an agent. 

How much does rent usually go for?