As a real estate agent, and having dealt with these companies, you could end up leaving a lot of money on the table.

Since you bought this for $5k less than the appraised value, I don't think there would be a big enough jump in adding value where you can do a cash-out refinance, and you would likely be bringing money to the table to pay off the HELOC with a standard refinance. 

I think you might end up leaving quite a bit of money on the table.

If you're looking to do a fix and flip - you'll need to come to the table with at least 10% towards the purchase price + closing costs.

(IRS provides tables to calculate the amount(s) based on your life expectancy each year.) 

Depending on the deal's profitability, some will only require you to bring 10% + closing costs to the closing table.

@Jedd Braunwarth Hi I was just wondering if you still do that round table meet up?

No, we would be bringing some money to the table for down payment, closing costs, etc.. 

Someone waiting tables while finishing nursing degree, and had some credit issues, YES, gimmie them, I will happily deal with them, those who give a shat about there lives and are clawing way up.

I suppose we would see granite workbenches and stainless steel table saws appear on the market so you could sit one next to your living room and feel good about it.