I bought my first rental with HELOC but need creative Cash out Refi

[Jonathan Taylor]

Hi Everyone, 

First time here on Bigger Pockets. I had always wanted to buy my first investment house, to fix up and rent. Opportunity came up in June 2022, off market so I used my HELOC and some personal family loans to purchase the property for $1.1m. I have spent about $300k with a mix of credit cards and energy loans on complete renovation of the interior and exterior. I had planned to just cash out refi as rates were decent last year but now the banks I have called are around 8% for rental. My HELOC has gone from 2-9%, and its killing me monthly. Renovations are almost complete so I'm trying to see if there are ways I can hold onto it and rent it, or is there a way to 1031 it, or do I have to sell. Similar houses are only renting for $6.5k. There is a good size detached garage I could convert to ADU, but it would take time with plans and permits. I would guess that could bring in $2,500-3000/month eventually.

I've been bashing my head into wall wishing I had just financed it all a year ago. Anyone have advice? 
Thank you,

Jon