If your next goal is to reinvest the equity into another purchase, then I would evaluate the pricing and cost of each option and take the cheaper of the two.

Because of Ogden's progressive planning & zoning and comfort with higher density projects (second only to Salt Lake), we are seeing a bunch of 10-50 unit multi's going up all over town. 

Not knocking what @Duane Richards is saying here but rather than apply a blanket occupancy rate as a rule of thumb you really need to evaluate the area.

Is it Land, Office, Farm, Retail  Commercial property is extremely broadYou can evaluate without comps as you can use income and re construction cost.. 

Hello all, I have been digging pretty deep into the FI community for a little over 2 years and have made some good progress with that saving a lot of money and reading numerous books. 

The first thing I do when evaluating a potential deal is to run a quick CMA within .25 or .5 miles of the subject property while filtering for # of bedrooms/bathrooms, sq. ft., year built, etc...

We gave them a deadline so that I could continue to evaluate other properties.

Do they require you to stay in the house for a certain period of time this furthering your progress after The HELOC is pulled, or can you move out instantly after the HELOC is pulled? 

It would be awesome if you kept me updated on your progress moving forward!!

As you are figuring out where the answers lie, you are learning all the skills you need to evaluate deals in your area.