Cash Out Refinance / HELOC Property Under 100K. Is it Possible?

[Dwayne Clarke]

Good Day All.  Here's the summary

- Purchase 1st Investment property, a SFH in Middle Georgia for $53K cash in December 2021 under a LLC

- Section 8 tenant paying $550/mth

- Per Redfin, property now valued $75K

- There is an opportunity to buy 4 duplexes by Robins Air Force Base but cash is tied up in SFH

- Low priority but related -- would like to install new HVAC system (quoted $4K) and possibly remove some trees from the 1/4 acre lot of the SFH (average $1K per tree...go figure)

I've been told several times that banks don't like touching anything less than $100K because it's not worth their time.  Additionally, I've contacted a few banks/credit unions in the middle Georgia area and they basically let me know that they can't work with me because I live out of state.

Any advice on how to get conventional loan on the property? I'd love to cash out and capitalize on other opportunities + address the items in the aforementioned 'Low priority' section.