If you pay cash you'll pay yourself back percentage back, if you use the a hard money loan the refi would pay that off and the difference would go to you

You'll only be able to cash out a certain percentage of that existing equity.

What this means is that the bidding starts at a set percentage rate and the bidding goes down.

Expect, to only get about 8% (or lower) of the properties you buy redeemed.If you pay close attention to the type of property, and do research to protect your interests, the percentage does jump up to about 30%-50% on the properties eligible for two year redemption.

His lawyer even told our lawyer he had a crappy case.I was a bit annoyed that our insurance company settled for a $70K payout. 

Most lenders require some skin in the game, whether it’s a percentage of the purchase price or proof of reserves.

Separate the work into 3 separate categories: 1) Those that are specifically related to the future STR usage, 2) Those that benefit you while living in the house and have zero bearing on the future STR, 3) those that benefit both you and the future STR....assign a percentage to the usage.Be specific and complete.

How long does it take to process a payout?

I am just financing the deal in an unconventional way that only a small percentage of banks have experience working with.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.