You can do a ‘cash out’ refinance on the rental home as a permanent fixed 20-25-30 year loan to pay off the Heloc on the primary and most likely the equity line on the primary permits a ‘re-draw’ to utilize again. 

I have more clients from CA either moving to TX (saving on state income tax) or purchasing rental properties in TX than any other state.The state does come with it's headaches (cash out refinance rules, higher property taxes etc), but there is no dispute in the growth in various cities.

Hi, we are currently in the market to refinance out of VA loan to gain entitlement back...Can we refinance into FHA, Conventional, or Physician Loan (we qualify)?

I'd prefer the bulkhead as it has more functionality, but not sure if that would satisfy code to make it a "legal" bedroom.I am hoping to refinance the property after I make the improvements to get my money back out, but that would definitely require the additional bed and bath to meet code and be considered legal.If anyone has the answers here, could point me in the right direction of where to find them, or just has any advice in general, I'd really appreciate the help!

I’m trying to refinance now that the property will be renovated but do I have to get the town to make the 1st floor an apartment residential before I can refinance ?

Doing a cash out refinance to recoup invested dollars is more difficult due to home values not increasing at 15% YoY.  

We will both proceed to getting the property and fixing it up some and refinance after it is fixed up.

I am not looking to take equity out against my house, and my other 2 rental properties are already going through a cash out refinance to pay for renovations of a fixer upper that I am buying.

@Julie Muse My end goal is to rent the house out long term and cash out refinance into another property.

Consider:How long you plan to hold each propertyYour exit strategy (sell or refinance?)