I've done a lot of research and even worked on running numbers for certain options (just as an exercise), but I'm now looking forward to jumping in.

I do want liquidity to invest elsewhere which is why I'd like the cash back from the reno ASAP, but I don't need liquidity equal to the value of the house--just the basement build-out, if possible.With option #3--how do you "cash out immediately"?

The "non conforming" lending options are actually called NonQM (non qualified mortgages).

His reason was the only thing he knew to do with the proceeds was to loan it back out at 12%, and he would be "behind" where he is now in cashflow.His proceeds would have given him options up to and including PE, but he is a simple man and in his case holding was the option for now. 

Another option is joining real estate groups on Facebook or LinkedIn.

What other concepts could be added to list of options? 

Quote from @Helena Goyvaerts: Quote from @River Sava: Hi Helena - This can be nuanced, but for DSCR loans there are a few options for you. 

I did a lot of research on options.

Some will be ok in 2nd position and some will not and force you to refinance out the first - but those are options that are probably cheaper than credit cards 

There are more options, but this is sufficient to answer your question.