This was a cost-effective way to meet our requirement of providing just a stove and refrigerator (we don’t include washers or dryers), without breaking the bank further.But here’s the twist: If we were upgrading appliances for a long-term tenant with a stellar payment history, we might invest in brand-new appliances.

Hey @Brett RiemensniderThere are a TON of banks/credit unions that will offer as low as Prime on a heloc on your primary residence.

It mostly means you don't want to deal with banks initially. 

Do not bank on setting a new neighborhood record on $ / sqft - be conservative in your numbers.

Are there any strategies here to utilize bank funds for our project?

And your bank is not requiring any sort of paydown of the mortgage for a partial release. 

I also found out that they moved a tenant in on 4/28 and his bank transfer bounced a week later and they had to evict him because he refused to pay.

If you ever see someone offering terms that are too good to be true, you might as well just post your SS# and banking information on IG.

If so, I'd consider those options first as they fit in the infinite banking concept.

It's actually harder if you are currently living in the property, want to cash out, and then have it as a rental as you haven't proven to the bank that the property will cash flow $600 a month on top of the NEW mortgage costs. 1.