The clarity I've acquired is amazing and has instilled a ton of confidence in my REI dealings.Hell, the leader of the Tucson group, last year, asked to borrow some money for a RE deal he was doing. 

Using borrowed money is going to make it difficult because you're putting extra pressure on whatever you buy, and with prices and rates high it's going to be tough to get a return for years or even decades.  

If that is enough to pay off your investor and remaining repairs, it may work for this.You can borrow less than the 70% if you don't need it, but they would have to be the only lien on the property so you'd have to borrow enough to pay the investor as well.  

The LLC gives you better asset protection - but you can’t use a residential loan to borrow in the name of the LLC.  

Almost all lenders require at least 20% of the lower of appraisal or purchase price to come from the borrowers own funds.  

There are only a few exceptions that allows someone to have more than 1 FHA loan at a time.Relocation: If a borrower is relocating to a different area not within reasonable commuting distance of their current residence, they may be eligible for another FHA loan to purchase a new primary residence.

She has been trying to BORROW the funds she needs $550K to pay off the Husband and another $300K of additional funds (Totaling $850K) so that she has the EXTRA borrowed funds to be able to make 2-3 years of payments on the financing (versus raiding her retirement account).

Is it a good idea to borrow against your home and overpay for the work because you have the cash?

If the Borrower moves back to the original area, the Borrower is not required to live in the original house and may obtain a new FHA-insured Mortgage on a new Principal Residence, provided the relocation meets the two requirements above.

Equity stripping is just another form of borrowing money.