Looking to utilize my equity as necessary as I purchased during the onset of COVID before the prices skyrocketed.

There are actually THREE kinds of subject to transactions1- subject to existing mortgage without lender approval2- subject to existing mortgage WITH lender approval3- subject to existing mortgage as part of a seller financed wrap around mortgage.with #1 and #3 it’s in everyone’s interest to utilize a third party servicer, who collects and then distributes payments.  

I know I need to get a credit card and keep my utilization ratio low, but I wouldn't know much about the process of actually receiving a conventional loan from a bank or any type of loan.

Due to increased rates i did not refi so i did not get opportunity to see how an appraiser valued the half bathroom but the comps with same bathroom count had crazy valuation for the additional half bathroom.Taking under utilized space like a work area to add a br where the added br does not put you above the normal for the area can add value.Similar if a neighborhood is virtually all 3 br and 4 br properties and you find a 2 BR, it could be a value add to add the bedroom via new construction.  

Alternatively, once you have a full time job (or an employment contract), you should be able to qualify for a loan and utilize a Down Payment Assistance program.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

I have also utilized owner financing for longer periods of time, including personal residence and 2 barrier island houses on the coast of Florida.  

Quote from @Elisabeth Lernhardt: Today I found out, that some of the utilities were not in the tenants name!

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

.)$10K out of my $30K line is only about 34% utilization maximum after I take each chunk.