Because the original value of your closed loan was based on renovations being done, there is no additional value to use for the removal of the PMI.Maybe consider refi to another lender who will order another AVM or appraisal to get you a more desirable LTV. 

Used a HELOC on a primary, and was sure that even with that additional debt-service, there was + cash flow.

So, if you have a W2 or cash flow from properties to build some reserve funding over time, then I would likely say know to additional funding from the cash our refinance.

In addition: I would withhold more money for completion.

Used a HELOC on a primary, and was sure that even with that additional debt-service, there was + cash flow.

Given appreciation is typically where you are making most of your return in any real estate, having this additional appreciation helps create much higher returns.Additionally, my single family tenants, typically stay a couple years longer than my duplex tenants.  

The foundation is so bad the house has shifted and I’m going to be spending nearly 40-50k to get this remediated.

Spend 6 weeks studying it.

Get to a point of having enough cash flow for me to spend less time on my job and more time with young kids in 5 years2.

In addition, the City of Cape Coral has updated codes and ordinances related to short-term rentals that are now available in a searchable database provided by Municode Corporation (3).Short-term rental limitations have been an issue in coastal communities in Florida, including Cape Coral, where investors can buy property and rent it out for short periods at high rents.