I worked with this exact system but the investors wanted outrageous requests along with constant changes that made the project unprofitable.

Regarding a HELOC, most banks will only provide a HELOC up to 75-80% of the property value, so you may not be able to access a HELOC for a while.

Florida scares me with insurance issues and constant threat of hurricane damage.

If your broker does not have access to lenders that are fine with SCorp, reach out to me, i have a few that have no issues with this.

You also get access to conventional financing. 

Alternatively, refinancing might give you access to some of your equity without completely exiting.

I either jack and jill the bathroom or add a hallway blocking off the bedroom portion to that bath to allow access for the rest of the members.  

BEST DECISION I EVER DID WAS MAKE MY WIFE MY BUSINESS PARTNER THIS YEAR FELT LIKE NEW BEGINNINGS LEAVING A OLD PARTNERSHIP AND STARTING A NEW ONE LITTLE  DID WE KNOW THIS FLIP WOULD BE THE WORSE THING WE DID THIS YEAR TALK ABOUT A HOUSE THAT WOULDN'T STOP SPITTING OUT PROBLEMS FROM SQUATTERS BREAKING IN , FROM THE CITY CONSTANTLY GIVING VIOLATIONS, WE EVENTUALLY TOOK A LOSS OVER 50K OUCH!!  

This approach might speed up access to funds without waiting for June.

In your scenario you'd have a potential tax event on that $200K difference.Here's a creative way to access most of that money tax free however.