Is the purpose of the refinance to re-evaluate the homes appraised value and leverage against it for another flip the a HELOC OR home equity loan?

If you're walking into $50k of free equity, don't want to miss out on that over <$3k of semi skilled labor. 

In syndications, crowdfunding or otherwise, I mostly favor cash investments (using investor capital) that minimize the long term risk of a loan, but have made 1 or 2 crowdfunding investments that have leveraged with commercial loans. 

In the 1980s equity sharing, or buying 1/2 a house seemed to be a solution for home ownership.

If you have built/created equity, you also might be able to refinance it with a better LTV.

I like that one better than the FHA because you have mortgage insurance that can be cancelled if its determined (by way of an appraisal) that you have 20% equity.

As well as pull some extra for improvements to the property, depending on the equity (which I know is there otherwise I wouldn’t be looking at this property)Am I missing anything?

I’m pretty sure the property will appraise for close to 2 million so there’s a lot of equity here.

Typically, the same applies to LLCs where you and your spouse are sole members.Actual Lenders Title Insurance states;CONTINUATION OF INSURANCEThe coverage of this policy shall continue in force as of Date of Policy in favor of an Insured after acquisition of the Title by an Insured or after conveyance by an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title.

So I sure wasn't doing them any favors by fixing it up.