I asked Elliot the same question, and he forwarded me over to the following link: https://www.biggerpockets.com/forums/12/topics/715057-out-of-state-brrrr-stepsSome good information there that speaks to having more equity in your deals and not gambling on a major renovations with the assumption that a refi is going to go through.

others would be wiped out.all because they sold or did not want to buy lower yield.. chasing yield is gambling as much as those that say buying for appreciation is gambling.. probably worse actually.. 

I don't mind gambling a small fee to each interesting property to discover whether or not there is a problem, but to stumble into a million dollar liability will end me.

It also comes down to goals if you in Seattle and do a Heloc or refi just know your doing it for appreciation (which I call gambling) but others will call investing.

Dimon, et al. feel that it is their right to gamble totally unregulated while still being backed by the tax payer if their bets fail? 

That's not a gamble I would be willing to take.

You are right this one kind of is a gamble but what can I do now, other than change the decisions that I make in the future.

That is called gambling.

In no particular order, here are the worst 5 reasons given to us for needing a commercial real estate hard money loan5 - Bank foreclosing - was unable to make payments to due to gambling addiction4 - Need cash out to pay off Mexican police to release son from prison3 - Need cash out to buy Ferrari for 23 year old Russian girlfriend2 - Bank foreclosing because charged with homicide of loan officerAnd my all time favorite1 - To get as much cash out of properties before filing for bankruptcyYou can't make this stuff up!

Not saying buying at the right time and gaining appreciation wouldn't be great, your still just gambling on an appreciating market.