These aren't uncommon in project contracts that take a longer time...I know homeowner's like a 'fixed price', and it works on a remodel that spans a couple months, but in development type projects the schedule is too long to lock things in.

In general with HELOCs, the higher the LTV, the higher your rate, but that shouldn't be of any consequence, as you should either have a plan to pay it off quickly or the bank will have an option to lock in your balance and amortize whenever you want. 

This is to prepare you for market fluctuations and look at how an investment would perform in a market crash scenario and test your ability to withstand vacancies, lower rents, or a decrease in home values.

I have not locked in a date, but if you don't mind some baggage, I wouldn't mind meeting up.

Once it is locked, that gives you 1-3 days to inspect.

currently a senior in college. been reading bp books, attending webinars, listening to podcasts, and trying to learn as much as possible. going to do a house back once i graduate. what are steps i should be taking now to prepare?

Unfortunately, the police will not get involved - you will have to go the eviction route naming the tenants and all "John Does" living on the property and only have you get the eviction order, will the sheriff get involved to help with the lock out - the process takes time and especially with Covid, tenants have a lot of safety nets.

Be prepared that if you are bound and determined to buy in the current market you could very well end up with the house appraising for less than you are offering, and would have to come up with the difference CASH (if this is a surprise, PM me for a full explanation). 

And if you started without one is there anything you suggest reading, preparing for, etc before i start?

If a former tenant applies for compensation, a landlord should be prepared to show that the rental unit was used for the reasons given in the notice, or the reason they were not able to use the rental unit for the reasons given in the notice.