Hey Jake, If your exit strategy is to pay off the balance asap, I would advise doing a HELOC.But I would consider a traditional refinance if you do not have an exit strategy lined up to pay the balance off immediately  and your blended rate (1st + 2nd Mortgage) is significantly higher than a standard cash out refinance. 

@Rob Ibarra Converting non restaurant space into restaurant space can be fairly costly from what I understand due to the need for larger than standard water lines to service the building and a general need for grease traps and other restaurant specific infrastructure.My first question around going from abandoned auto shop to kitchen is zoning, could you even get the use approved, and then are their any environmental factors in play? 

That would give me enough time to repair the house to meet conventional standards and force equity for the cash out LTV %.

Additional relevant provisions in the contracts:"Title Evidence and Insurance: a title insurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed as exceptions attached thereto ("Title Commitment") and, after Closing, an owner's policy of title insurance (see STANDARD A for terms) shall be obtained by the Buyer. 

@Roberto Westerband on the investment property I will pull a standard commercial loan and have the property stand alone. 

@Mauricio Quintana from what I understand, you can charge what you deem to be market rent regardless of the payment standard set up by section 8.

This is what I have done with a more extensive rehab with my GC, but wasn't sure if this is standard for smaller repair budget and dealing with a handyman / sub directly.  

That's what I have found to be the standard going rate.

If you only end up flipping one property in your first year just use a standard LLC.

Sounds high but everywhere is different, and that just might be the standard.