Given that you have somewhat higher interest rates on 2 loans you might consider refinancing but not paying them down which would allow you to keep your reserves in case you need them in the future.

If you needed to pull cash for the rehab then I think HELOC would work best to keep your rate, but if you're only refinancing to move the property into your LLC then it doesn't seem like it's worth it.

The SFH originally cash flowed the best at about $900/month until I refinanced it to buy something else.

What strategies are investors and realtors using to maximize the benefits of cash-out refinancing?

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...Refinancing: Conventional or Portfolio Lenders vs.

Your idea of purchasing and then refinancing with a heloc is perfectly fine. 

Refinancing a hard money loan to another hard money loan is not easy and may require the borrower bringing cash to the table if the ARV does not support the rehab budget and loan payoff amount.

On top of the fact that values and rents rise during the time you own the property.....refinancing, or snowballing payments can bring your payments down on top of it.  

Yes, there are a lot of people who spend less than they make and have a surplus.There are others who are inheriting wealth from othersBut there is another subset that we often forget: those who have equity in their homes.Much of the equity has built up due to a runup in home values since 2020, which allows these people to use a HELOC to purchase a home for cash.When rates were low there was a group of people who were using Hard money to purchase and rehab buildings and then refinancing at the end this was the BRRR strategy.Hard Money is not an option these days since the cost of refinancing at the end of the project is too expensive.So when we see people paying cash, it is often pent-up savings and HELOC money that people use, and not as often Hard Money.

@Mike Musarra  If you plan on doing a BRRRRR your best bet will be refinancing into a DSCR loan.