Your reinvestment targets for a 1031 exchange would have you purchasing $700K of replacement real estate using all $500K of equity. 

However, this is not a cash out refi.Cash out refi is when you refinance an existing loan, with another one (i.e replace the loan) where there is enough money left over at the end of the process where you can put some proceeds in your pocket.When it comes to your strategy - just make sure you're being conservative with your numbers on the purchase / rehab if you don't plan on using other proceeds to payoff the HELOC. 

This doesn't replace the need for a MSA that will capture additional clauses needed on a Contractor-SubContractor relationship, this is just a project specific form you would use in addition to the MSA (prepared by your Attorney):This template is for informational purposes only and does not constitute legal advice.

Of course when doing the 1031 exchange your basis will carry forward into your replacement property.Where you have a potential issue is establishing your intent to hold those properties but immediately selling one or more them as soon as you have them ready. 

You said "100% of our funds were investors" then "my capital came from bank Lines of credit NO investors", so wondered exactly how much of the 100% was replaced. 

You can learn from someone one step ahead of you and then do business together.I'm sure there are plenty of mentors you could pay substantial money to to gain knowledge and know how but i doubt it could replace actual relationships that are pertinent to your market and current business.

I had to sell so I replaced the HVAC and a day later it was stolen by what neighbors described as the previous tenant.

You might try corporate housing by owner, or try getting in contact with some insurance companies for replacement housing, or traveling work-crews, etc. 

Hi all,Replacing a 20+ yr old OIL heating system with a GAS system.

If I can replace the bathtub with a shower, I'd be able to make the bathroom feel larger.