Do you want a disgruntled heir contesting the transfer sometime down the line?

There is a world where you could use a HELOC, but the line of credit you'll be able to get won't be big enough to justify the labor that goes into underwriting and servicing. 

I would recommend running scenarios with a lender, and if your bottom line is not enough to help you get started flipping, then it's best to hold off. 

A few years down the line, they were surprised by California's tax bill due to the state's clawback provision.

I also use business lines of credit from banks, but for this banks definitely want to see revenue (usually 5-10x the amount of a mine they will give you).It is important to remember though that just because these lines and CCs are not immediately reported on your personal credit report, if you miss payments or default you are personally liable and the debtors will add it to your personal credit report.

Because the existing house was too low the developer followed the rough location of the old sewer line and installed a new sewer line to connect to the existing house. 

I just don't want to be stuck with a high APR or MIP later down the line.

The local law says that the non owner occupied property being rented will need a designated host that may or may not be the owner however that other line item in the code that stipulates that the host must be available within 30 min driving while the unit is occupied becomes the dealbreaker.

Opendoor, like most large sellers, is very focused on their bottom line.

However I am struggling to understand and evaluate the risks involved with cash out refinancing 2-5 years down the line.