I have already been fully qualified for both the line of credit and DSCR.

Anyways, I think @Caleb Brown hit the nail on the head.

I am currently looking for a small local bank or credit union that issues lines of credit collateralized with investment property.

He had this ambitious flip lined up and decided to tap into a 0% business card deal to cover the rehab costs.

Does anyone utilize a line of credit as an emergency fund?

That's why the personal connection with the verbal deal and personal reputation on the line matters for me in classifying as a PML situation.That is a very clear explanation of the difference between HML and PML.

That is exactly what traction helps you do that @Chris Seveney pointed out.It doesn't have to be perfect, but just getting something down on paper will be a huge help - at least, that's what I found when I started our Chicago general contracting business.  

It took a little time for all of ours to gain some traction early on. 

For replacement canoes that got damaged by straight line winds.  

Quote from @Scott MacComb: I have had contractors just do a small list on a paper napkin, and some do something on a word document.