Some providers take the approach that a furnace or water heater with several years of expected life shouldn't be replaced in the rehab, but that the final product should be priced accordingly.

Banks would rather put someone in an ARM product than a fixed rate loan.  

A while ago I saw a post here teaching landlords how to avoid liability by setting up a company/ the property owner in another state, so the tenant cannot sue the property owner in the state where the rental property is physically located but in the state where the company/ property owner is filed.Can someone provide more detail about how this works?

We would like to have a similar type of product; a low down payment loan with a construction component. 

Doing so right before a 1031 has always opened the door to a claim that you took title primarily for resale and not to hold for productive use. 

Be sure to ask though I might have the wrong product or there might be a better one.

If you are working with a conventional lender, refinancing/ HELOC follows the same general process as a new loan (underwriting)...there are some exceptions to this, but it depends on the lender/loan product, and situation...

Of course if values are moving up that quickly, it may still be a fair price even with less square feet.I would never buy a property without being able to physically step foot inside and "inspect".

When comparing apples to apples across the board with different lenders you will need to know what the interest rates are, what % down you will be using, what the total lender fees are, any points being charged & what loan product specifically you are looking at. 

That said, there are local courts that will not preform and eviction or sign a writ of eviction so after you win in court you need to check with your local bailiff's, sheriffs etc...however you do them locally in case you need to physically remove someone.