I would like to keep it as there are two doors on the property and it would cash flow nicely with my insanely low mortgage/interest.However, I’m leery of managing while living internationally.

Leveraging your equity through a HELOC or cash-out refinance can be a smart move, but it depends on your risk tolerance and goals.

as mentioned the most common way is you do a cash out refinance to buy an ex out of a property.

So you purchased it cash and just need the rehab $?

You only take what you need when you need it.Heloan usually means 2nd place like a cash out refinance but they do not pay off the first mortgage they give you an amount in cash like the $10K above. 

You're cash-flowning a little. 

And markets like Tulsa, Memphis, Nashville, Indianapolis and the like are your best bet for cash flow on holds. 

The idea is to expect a negative cash flow, however bank on the growth to achieve a good return.

So the rest is all cash out of buyers pocket.

Based on comps I could get about $2,200 a month in rent. that breaks down to :-$1,100 (+) -$600 = -$1,700 in mortgage/HEL$2,200 -$1,700 =$500.00 profitOr the Home Equity Agreement I get the $62k cash with no payment.