Fix and Flips require Money(and or atleast reputation).If you are in a bad financial situation, fix and flips may not be possible for you(especially if you have no experience).

I don't know anything about their policyholder experience.However, every homeowners policy I've ever seen, even with a "home sharing" endorsement or rider, requires some owner use of the property. 

If you can qualify for conventional cash out refinancing, most lenders do not have a minimum loan amount requirement.

In Illinois for commercial property, property disclosures are not required. 

However, this means you’ll need to comply with the annual filing, franchise tax, and reporting requirements in both states.

May require some patience, but trust me, this stuff is not easy for some people to follow... 

Some of the new laws in the state house will require you to provide Air-Conditioning.

They're all obvious and simple, but do require work.

If you're an accredited investor able to meet the minimum commitment amount required by the fund, I have to imagine you have access to opportunities that are more favorable to you as an LP.

Your ability to qualify depends on income, credit, and lender requirements, but leveraging your equity makes your request more feasible.