Leaning towards a home equity loan or refi as choices since I've been turn down for Helocs due to DTI ratio which i find strange.

Learn from a mentor and see if you can provide sweat equity in the area of your choice at first to learn in the field training.

I've seen some posts arguing about design and color scheme choices that are in and out of style in rehabs and flips so I figured I would give my first hand advice.

You're in the right place to begin with, but the choice is yours.

Given the choice between cash now of say $500k, or REAL equity of $600k, I choose $600k equity as long as the $600k is greater on a RISK ADJUSTED BASIS.  

I bought a property in Houston TX and the inspection report didn't showed up anything.But when we started to fix, the Mold issue came and we had no other choice but to fix it. 

There are so many choices out there that you need to make, and you have to look at what you really trying to do with it, which is asset protection for your personal assets most likely.

Most people will tell you that your second choice can't be done, but the IRS has issued two (2) Private Letter Rulings on point where they did allow the taxpayer to build on property they already owned through a 1031 Exchange. 

I would be shocked if you evaluated this property honestly if it would be a high choice for a rental. 

Though not cheap, Perrysburg has seen consistent appreciation, making it a good bet for long-term growth.Investing $100K+ in Toledo:If you're putting $100K+ into one property, Ottawa Hills and Perrysburgwould be top choices for appreciation-focused investments.