Like Jay said, there can be more flexibility in repayment options. 

With my $1,100 monthly revenue, my 700 FICO, and my (likely) $55,000 in equity - what kind of options would I have to refi.?  

There are a lot of options out there.Some of the most useful items BiggerPockets members have identified are features that save time so they can spend time working on their next property.

Otherwise, I recommend option two, using a personal loan.

Investors are already on board with the options weve got, just shopping for the best option.

If that's what you're really after I would start with the basics of what kind of bank loans either residential or commercial are available to you - not saying this is the best option, but it's a good place to start.

Also, I am considering alternative financing options (beyond Hard Money).

Question 2: if homes upside down on mortgage what are my options?

Have you explored any of these options yet?

To leverage the equity for financing my next deal, a second mortgage seems like a more cost-effective option.