I am little leary cashing investments and using home equity without better understanding where the money is going and how we are protected.If anyone can recommend a good resource to better educate myself on this, I would really appreciate it!

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Depending upon the amount of equity in the property, you could end up getting paid back, to having to pay off the first if you want the property, to losing everything.One important lesson here, of many, is that you really need a lending attorney to educate you before you do a loan like this.

I would love you all to critique these as well.I’m not in the least bit handy, and assume that I will need a contractor for all of these—no sweat equity in this deal.- Sheetrock to repair some holes in the wall ($800)- Some decent new flooring (2100 square feet of wood laminate flooring installed, $5.50 per square foot = $11,500 total)- Appliances — washer, dryer, refrigerator, stove, dishwasher, water heaters, and microwave for each unit ($11,900 total)- Washer and Dryer ($1500 per unit, $3,000 total)- Refrigerator ($1300 per unit, $2,600 total)- Stove ($750 per unit, $1,500 total)- Dishwasher ($500 per unit, $1,000 total)- Water Heat ($1000 per unit, $2,000 total)- Microwave ($300 per unit, $600 total)- New kitchen cabinets and counter tops in both units ($4000 per unit, $8,000 total)- Framing of closet space for washer dryer plus shelves and door ($2,000 per unit, $4,000 total)- Bathroom remodel in both units ($9,900 total) - 2-sink cabinet / vanity ($800 per unit, $1,600 total) - 2 sinks ($400 per unit, $800 total) - Countertops ($400 per unit, $800 total) - Mirrors / Medicine Cabinets ($500 per unit, $1,000 total) - Framing and installation of small linens closet plus door ($800 per unit, $1,600 total) - New toilets ($200 per unit, $400 total) - New tubs ($1200 per unit, $2400 total) - Lighting and Fixtures ($650 per unit, $1300 total)- Exterior landscaping, some patching of the yard, trimming of trees, and a few beds out front ($2,000)- New interior doors ($900 per unit, $1,800 total)- New exterior doors ($800 per door, $1,600 total)- New mailboxes and house numbers ($500 per unit, $1,000 total)- Exterior painting (minimal with brick construction) ($1,000 total)- Interior patining ($3,000 per unit, $6,000 total)- New exterior shutters ($300 per unit, $600 total)- Interior window treatments ($300 per window, $3,000 total)On the rent side, there are few rents in the area at $1250.

It’s the same as having one mtg, either there is equity or there is not. 

These are approx but close numbers, just trying to get an idea.ARV $225Current appraised value $200Principal on 1st Mort is $98Current Heloc payoff is $48So when I refi, I assume I'll only be eligible for about $175 (75% of current value) I obviously want to payoff the current Mort and HELOC, so with the equity I have left (about $25K) should I just try to get cash out or establish a new HELOC?

Let's set this up saying it's a $100K sale price, with about $75K Equity. 

Crowdfunding platforms run by a single sponsor (syndicator) as a way to raise additional capital for their dealsThe above can be divided into debt or equity.

I owe $230k on a 30yr fixed at 3.5% with about 23 years left to go.My concerns are: losing a great rate and paying taxes/commission on a large chunk of the equity. 

Nope  nor should you.. now could pay cash then do a REFI after and have a limited amount of cash in it.. folks do that all the time.. but no equity lending is highly risky