After the rehab, I want to rent out the property and put conventional money on it, I assume the bank I get the new loan from would look at my debt to income ratio correct?

You should not rely solely on this information as the laws and procedures in your jurisdiction may materially differ. 

I also require tenants to direct deposit through payroll deduction or going to my bank and physically depositing rent...no alternatives.

I have a small local bank that I have been using for 4 years.

Listen to the @Gino Barbaro podcasts, they say go for it "Lean into" deals, but you gotta have cash to get the wheels moving with the bank, then once you have the "relationship", you can do lots of things.

I thought pulling 100k in bank mortgage to use cash for other investments, pay them a percentage for the usage and would still have approximately 700$ monthly payment on 20yrs 5.5%.

These include bank accounts, stocks, bonds, mutual funds, and so on.

I make my monthly payments to another bank.

@Frankie White this is not a good BRRR property.... the most a bank will finance, based on your ARV, is $168k, so you wont recoup any of your investment to "repeat".

So for guys and gals working these C class product taking all the risk to bring that product to the busy professional they deserve to make money .. and since many finance these properties they appraise out so whats the beef if a 3rd party appraiser hired by the bank says its worth 75k then there you go..