Freeing up cash on buy and hold

[Amanda G.]

3/1.5 house, which could be a 4/2 with a basement bedroom added. Between the purchase and renovations, I'm looking at about $35k in, with 10 - 11% CoC return. A lot of work, but not bad.

My question is, how do I free up my cash afterward? If I refinance it to a conventional loan my cash flow drops to zero. I plan to hold it in an LLC, and I hear HELOC's are hard to get on property held this way. Am I shooting myself in the foot locking up all my cash in this deal? What are my options?