When you're competing with many other first time home owners and a shortage of product, it's extremely difficult to enter in.

The refinance will hurt my existing cashflow at this group of properties but it’ll actually shorten my payoff period from 23 years to 20 years due to the change in loan product. 

My current profession is as a line production manager for an automotive company.

Some providers take the approach that a furnace or water heater with several years of expected life shouldn't be replaced in the rehab, but that the final product should be priced accordingly.

Banks would rather put someone in an ARM product than a fixed rate loan.  

It's got an HOA annually of $325, move in/rent ready now with noting on seller's disclosure as significant defect, noted roof is 7 years old with commercial kitchen updates, playground area, etc.  

We would like to have a similar type of product; a low down payment loan with a construction component. 

Doing so right before a 1031 has always opened the door to a claim that you took title primarily for resale and not to hold for productive use. 

Be sure to ask though I might have the wrong product or there might be a better one.

If you are working with a conventional lender, refinancing/ HELOC follows the same general process as a new loan (underwriting)...there are some exceptions to this, but it depends on the lender/loan product, and situation...