@Seth Botner, I think this link explains it pretty well in general.https://www.legalmatch.com/law-library/article/deed-restrict...Here is the pertinent excerpt:Who Enforces Deed Restrictions?

I’ve found that as long as they’re somewhat insulated and well installed the color won’t matter.

Even if that one branch is doing well, if the whole firm is upside down, that's not a good business model. 

If there are unsecured creditor not getting their full amount due it is harder as well as it would need to be out on open market to make sure it gets best price for the unsecured creditors

They have much stricter reporting requirements (audited financials and semi annual reports), as well as a much lower barrier cost of entry.

You could still potentially qualify for FHA 3.5% down, but if you are looking for true Fannie/Freddie financing then those are the guidelines they set. 

It sounds like a cash-out refinance or a HELOC could work well for your situation.

I’ve flipped about ten homes in Indy and work closely with a GC and agent that know the market very well.

Just like you said with most real estate agents as well - many are incredibly lazy, unfocused, or just simply have no idea what they are actually doing.

I would recommend getting a referral from other investors as well if you want to find a new relationship.