They also argued that by influencing the market’s view about the future path of short-term interest rates it will make it more difficult for the Committee to achieve its objectives in the future.

If you are looking for appreciation same principle applies.

Take your time and find the right market for you given your goals and objectives. 

@Eric Kulling I would agree with Paul - if you've got the cash to do it yourself, that will provide you more control and less expense. 203k loans are expensive with fees, however, they allow you to put minimal money down for both principle and construction.

Conversely, if your place is already much nicer (objectively . . . don't do that normal homeowner thing where everything in the home is the best ever bc it is your precious -- think LOTR's Schmeigal) then you'll find that not much is needed to gain the upper crust of tenants.Let the market determine your moves :) 

That being said, remember that the primary objective of an investor is to put your cash where it will obtain the highest Return on Investment (ROI).

My frustration is that I would like access to more of the equity inside some of the properties which is in there due to years of appreciation and due to the principle mortgage paydown but I would like to not have to refinance or finance a new HELOC each time I want to access more of this equity.

I also don't see anyone suggesting that hiding information from principles is a goal anywhere in the discussion above.

If you follow some proven strategies and don't chase the shiny objects that will present themselves along the way, you'll have great luck here.  

Asks why they want to stay, what's the purpose,etc.Reject those who's living local in the area except under certain circumstances, unknown objective.