Property ClassProperties are categorized by class, impacting their quality, condition, and investment profile:Class A: High-end, newly built, prime locations, attractive to institutional investors.Class B: Good quality, older than Class A, with minor deferred maintenance.Class C: Older properties with dated amenities, but value-add opportunities exist.Class D: Distressed properties in less desirable locations with high risks but potential for significant improvement.4.

Any other expenses are using up funds that would otherwise be sitting in your checking account to make a mortgage payment with.

From what I've learned it seems that a HELOC is probably the easiest way to gain funding but at the same time it comes with risks if the flip isn't successful. 

You can reach out to the Title company and see if there are any funds remaining for dispersement, if so then ask if there is a way to make a claim to those funds.

Lender wanted homeowner to sign something to recieve the funds.

If you buy in a prime location with desirable amenities, you’re setting yourself up for steady income and long-term growth.

@Georgy CherkasskyIf you truly desire to become financially independent you should learn from the experienced, successful posters on this forum instead of “shooting the messenger”.  

Bronson Hill created at fund of funds and invested through Dave Zook at the RealAsset Investor.  

Both properties have a substantial amount of equity that’s essentially sitting idle.Would it be a good idea to tap into this equity (through a HELOC, cash-out refinance, etc.) to fund future fix-and-flip projects or purchase additional rental properties?

I'm also a licensed mortgage broker with a lot of fix-and-flip programs, including some that require as little as 10% down on the purchase price, and provide 100% of the rehab funding.