I have been met with a few objections, and would like to know what your thoughts are on each (and maybe some counter-arguments that I can use):-It's a seller's market / houses are overvalued and prices will drop soon-There's too much uncertainty in the economy with COVID-19-It will be hard to get people to rent during a pandemic-The election in November may have an impact on the economy, housing market, etc.Thanks in advance for your feedback!

What will the impact of this source of funding increase be?

Sunset Cliffs area can be impacted with traffic as the base primary hours open (~7 AM), lunch (noonish) and close (~4:30).You will want to find the right area for you as beach communities each have their own flair. 

I would do due diligence and see how would the cash out impact the next deals.

@Charlesa F. you can enter the address here for flood risk https://msc.fema.gov/portal/homeIf it is in the blue, or blue and red striped areas, that is something I'd almost always avoid, some of the other areas are a bit less risky but it is likely to still have an insurance impact. 

When I made that decision I described, I wasn’t educated on assets/liabilities and what impact that new debt would have on me.

Although I prefer doing a refi vs a HELOC because the added cash out is termed out over 30 years and has less of an impact on my cash flow, my concern is I'm not sure if my property will appraise high enough to conform to the 75% LTV with the cash out and I dont know how long the process will take (2-3 months?).

It came with existing tenants, one of whom had a job impacted by COVID.

If occupied, will the tenant's "neatness" impact the appraisal value?

These are specifically designed with the long horizon in mind and are much less sensitive to rapid market swings as well as providing inter-recession protection (probably a phrase I just made up) but it is what is says - letting your wealth in a way where recessions no longer impact or concern you.