With that said I am looking to do minimal work to renovate the home such as painting and adding new appliances.

Just my opinion but I think 2 years is too soon to consider exiting deals (minimal appreciation and less than optimal use of depreciation). 

I want to refi and pull some of that equity out ($200-$250k) so I can keep growing my portfolio but I'm not sure how to approach it as it would obliterate the cash flow I currently have, and in the current market I won't be able to make up for it with additional properties as they would also have minimal cash flow.

I want to minimize my taxable income for the year.

HELOCs or traditional financing may also be better options to preserve retirement funds while minimizing immediate tax liabilities.This post does not create a CPA-Client relationship.

Consult with a tax advisor or attorney familiar with both partnership law and real estate to ensure compliance and minimize tax liability.Once under a TIC structure, 1031 exchanges for individual members could allow them to reinvest proceeds from the sale of properties into new ones without triggering immediate capital gains taxes.

Mostly people with minimal RE experience are adding a single ADU and they often make that choice based on cash flow without taking into account the negative equity position.  

Both are digital-first banks with minimal fees, and Mercury in particular offers free domestic and international wire transfers for most account holders.

I recently opened a HELOC and I recall it's at prime for the first year (7.5% currently), and I only paid minimal closing costs.PML or HML I would expect rates >10%, plus points, possible prepayment penalties etc.

The loan is 12 months, pulls twice a month, the interest is minimal because I'm paying it off so fast.