If you are using cash out to pay off consumer debt or buy a personal residence, the interest is not deductible. 

So you need to make sure long term rental figures can support the note even though the plan is STR.  

However, foreclosure of a loan to a consumer must comply with CFPB requirements. 

I suggest consuming as much information as possible via these sources.

Thanks again for the support and the help! 

When I came to a crossroads, my wife was very supportive.

You can make money on improvements if you buy something distressed or in much more dated condition than surrounding homes, but if you buy an average home in a neighborhood and do alot of rehab, you are demoing value to try to add more and often the numbers won't support it.

Just make sure to consume contents here as much as possible and feel free to ask any questions you may have.

Wondering if anyone has been successful in getting a LOMA (Letter of Map Amendment) to FEMA (if the certificate of elevation supports it) and changed their designation out of the flood zone? 

Not only will you lose everything (including all of your real estate holdings) in divorce court, you will be responsible for alimony and child support for a very long time.