@Tyler Cornfieldshort answer - i don't know if you are or not. ask some lenders.but i'll say this about out of state investing at this time. 

DM me - Happy to share learnings so far and give you an agent referral.

Does anyone have a spreadsheet formula for this?

Hey Tony,None of those are bad options, honestly if you have paid off investment properties; the best terms are probably going to come straight from a cash out refinance.Line of credit is a good option due to only paying on what you use but if your planning to start construction immediately I would go with the cash out, its going to be less headaches as well.

Any tips on structuring deals or ensuring a smooth process would be greatly appreciated?

When I have these questions, I try to think about what I would expect from my landlord as a tenant.

i'm an investor also from bay, CA. 

Just curious on feedback from members on the forum how their syndications went/are going.

This is my first time doing this, so I want to understand the most efficient way to do so.

You want to learn to become an asset hunter and not a spreadsheet warrior.