And, if you want to pull out equity before 10 years (I would), I would do a HELOC and still keep the seller financed 3% loan in place.

Is it just a credit pull?

You need to have a lender that will approve you for a refinance in place before you pull the trigger, or as you said, you will get stuck in a deal that you can't get out of.

I have a child on the way in a mortgage to pay, so this is what pulled me in period what does everyone think?

The hard money lender would want to see the ARV which I would be kind of hard to pull comps on being that it’s a triplex.I know it can be a game changer for us if we are able to purchase it, or should I say WHEN we purchase it.

@Ron S - I have found that each lender has different "dispute" procedures if there is a discrepancy over a flood zone determination, there are more then 100 and as with anything some are more exact then others  (Heres a link to that list) @Ron S thanks for helping me bring up the topic of Elevation Certificates (some people are confused when it comes to the difference between the  Flood zone determination (FZD) and the Elevation Certificate (EC).Flood Zone Determination is usually (and should always be) pulled by your lender prior to a loan closing they typically do this on ever loan so they have documents if they were to get audited by FEMA.

I saw MAYBE 40% mortar coverage under it when I pulled it up.

Unless your house is a real fixer any upgrades you add probably won't impact the amount you can pull out too significantly considering how much equity you already seem to have.

I too am looking for my first property and just about ready to pull the trigger.

I'd call the seller, tell them you'll put $10k hard if they extend another week (but only if you're sure you can pull it off)