For the bank owned houses, we so do simultaneous closing, he non bank ones we assign whenever feasable to keep costs to a minimum. 

That will allow you to put that money towards your next deal while simultaneously converting to a 30 year note.

@April Thibodeaux I would do both simultaneously.

Refi / obtain HELOC with the same bank simultaneously or can I first refinance with a bank with the lowest interest rate out there that I can find and then as a step two, obtain a heloc with the banks that offer the HELOC? 

You will be able to take advantage of your increasing equity in the home from someone else paying the mortgage and you will also simultaneously be paying off your personal debt.  

I accredit some of this growth to doing both investing and sales simultaneously.

It is close to the apex so you can buy it high and count  negative equity and kick yourself.But if I'm following the lease-option model and getting 10k-25k option payments upfront which go directly into reserves, this is a relatively safe way to go about REI while simultaneously building reserve capital, no?

Preferably simultaneously?

More realistically, I'd probably be looking for the right neighborhood/property to fix, force equity, and live in while simultaneously looking for multi family opportunities to invest in, fix, BRRRR, etc..I'd be curious to hear from BP Texans with tips, advice, etc. on any and all of the following...1.

Simultaneously, flip a house.