To scientists and engineers, it is called: "WTF is wrong with you, the data is right in front of you".Allow me to demonstrate what YOU  stand for.

Contact your lender, and they will start the process.

The process was fairly smooth for me.

Second, we’ve refined our screening process for the clients we bring on.

I have actually done this and can say that it is a pretty complex process with many rules.

Let me know if you have any questions on the process of appreciation and even tax advantages, especially since y'all are engineers!

@Grace Chee The process for this is time sensitive, you should have gotten a TRIM notice around late August, early September.

However, this is not a cash out refi.Cash out refi is when you refinance an existing loan, with another one (i.e replace the loan) where there is enough money left over at the end of the process where you can put some proceeds in your pocket.When it comes to your strategy - just make sure you're being conservative with your numbers on the purchase / rehab if you don't plan on using other proceeds to payoff the HELOC. 

I'm currently in the process of gathering more details from my property manager.

Hopefully, based on actual field measurements, past project data, and estimating software, your contractor can develop a detailed estimate that lays out the cost of labor and all materials for each phase of the project.