ARV is $210-215,000 with finished basement.Following the BRRR, I will be operating at a minor loss if i pull out all the money on the REFI (approx $175,000). 

@Alex Kamunyo Just in case, there are state specific forums on Bigger Pockets and the Texas forum is quite active. 

Bank wants to regroup loss and often wants to make money out it.

It's an even bigger issue if you have a mortgage on your primary residence, want to get a HELOC, and want to pick up a second mortgage.

heloc is the best way go its considered as a revolving credit.1. you can pay back the money and access it again2. cheaper interest rateif you did a cash out it would hit you with a bigger mortgage

The main issue I think you are going to have if you move forward with this property is the only insurer that will take a property that has had a recent loss is the (National Flood Insurance Program) NFIP or government program (What is the NFIP?). 

I value your opinion and many others on bigger pockets because with no real experience yet, I can only really go off of people who have had experience.

Hey @Robert Bodmer and welcome to Bigger Pockets!

Cash flow is very low and a vacancy is the loss of 100% of income. 

Nerissa, your accountant should have told you that you can deduct the entire cost of a range as a loss over five years on your taxes.