Negotiate and fix the operating agreement, arrange the line of credit, sign the purchase with escrow conditioned on the visa, apply at the consulate, then close after issuance. Drawing the loan and moving money before the agreement is right wastes interest and can lock in a control problem.
Agreement first, money second, application third
The sequence protects against paying for a business he cannot direct or cannot enter the country to run. Start with due diligence on the remodelling company and with negotiation of the operating agreement so that control sits with him; this is where a Paradise buyer should spend legal time. Then arrange the home-equity line of credit and confirm the amount, keeping the loan personal.
Sign the purchase agreement with the price deposited to escrow and release conditioned solely on E-2 visa issuance, having cleared inspection, financing and landlord consent first so the visa is the only open condition. Assemble the application with the seller's records, the source-of-funds trail and the plan, and apply at the consulate. After issuance, close, take up the management role and move the family.
He should not manage crews on trips before the visa; the founder runs the company until closing. If the consulate refuses, the escrow returns the funds and the loan can be repaid, which is the point of the order.