Not much to tell .. just commenting on how dangerous and risky gap lending and gator or EM lending is. you can do normal first position fix and flip loans. through many brokers or just go to any REIA and you will find those that flip homes find one you trust and be the bank.. pretty simple really.

Is the property already encumbered with a loan?

Make sure that it's a new Mobile because once that thing has been moved twice, it's almost impossible for a buyer to get a loan on it.

I am new to the real estate investing field and am seeking advise between choosing a HELOC/Cash Out refinance loan for funding.My primary home is paid off and valued at approximately 600k.

Indeed, you would have a higher interest rate for this commercial loan.

For investment properties, you can get a private money DSCR loan or hard money loans that are asset-based. 

I used a conventional loan with down payment assistance because the appraisal process is less strict than FHA or USDA and the bathrooms were barely functioning.

Or because private loans have very high APR?

90% of my clients are using the 10% down second home occupancy loan to buy in the STR asset class in all 50 states.  

When using and FHA loan, if there is a non-occupant co-borrower that is a family member, on a 2-4 unit the max.