Advice needed to refi out of rehab

[Ian Whiteman]

We are completing a nightmare of a rehab project in South Florida that is well over our original budget. The problem we are facing is we know we won't get our money back out of it so we are looking for the best way to get as much as possible. The property won't appraise for what we feel it is worth (stop laughing) BUT is an incredibly unique home. Many years before we purchased the home it was 2 separate single family homes. The prior owner combined them with additional rooms between the two homes and made it a legal duplex. 

As the home sits today it is a 9 bedroom 8 bathroom duplex with 8 rooms have their own separate entrances to the exterior. If you haven't guessed we will be using it for a vacation rental. 

The purchase price was 400k and we have a hard money loan out for nearly 400k currently. We have put ~300k into the project. The property is currently in an LLC. We (my partner and I) can refinance it in our names as an investment property or into a business name, whichever proves a better decision. Currently, Im trying to find out what programs may exist that we are not aware of. We have spoken to 2 lenders but we are hearing the normal 75% LTV.

The reality is the appraisal may dictate our direction. If one comes in at 700k and one at 600k, Im sure everyone can do the math. The property is located in South Florida. As of right now, I'm all ears. I'm looking for any suggestions I can dig into that will allow us to pull out as much cash as possible.