Rates are low and you have solid equity to extract so now would be a good time.  

Really, I'm looking for a way to extract and build upon the equity I already have in real estate.

In addition to using all of my immediate savings (which was not much at the time), I got a HELOC to extract every last drop of equity from my primary residence, borrowed the max from my 401K, borrowed the max against cash value of life insurance, obtained a "emergency" salary advance from my job, and maxed-out my credit cards.  

But then I have to pick through 4200 grandchild pics on the SD to extract a couple of our recent rehab!!!

You put your properties in, but extract cash regularly for your personal expenses.

Cap rates are extracted from closed sales and identify what a NOI (for a one year period) sold for expressed in a percentage.4. 

Should I try to extract any further provisions? 

I'm a Licensed Realtor in the Los Angeles region who analyzes and extracts Bulk data from MLS and private listings to determine the best Cash Flow, Rehab, and high ROI properties currently on the market.Looking to create a team of like-minded people interested in sharing the knowledge, experience, and wealth that Real Estate Investing offers. 

I do have a couple of recommendations for you though; Ask the listing agent ' Is there anything aside from price that the seller would prefer to have in an offer,' such as Specific closing date, or a lease back so that they may find a replacement property, etc....I have found this to be a very effective way to extract some of the seller motivation.

@Kyle GreggNot sure where you extracted that quote, but if it certainly does imply some potential responsibility of the mortgagee, just not to you.