Then you just have to use the HML to bridge the gap until you can refinance and start the slow equity grind with PITI payments.

Lets assume the pre-lim and SI comes back good and the there is equity. 

I had initially started this journey to create a rental portfolio so i guess I was just working from the perspective of creating equity in the renovation and using the refinanced funds as my "doomsday egg/next deal proceeds" if that makes sense.Thanks for your insights I'll take them any way i can get them.

Or if your primary has any equity go open a HELCO to cover the money needed and once the refi is done paying it back?

My understanding is that I will still own the deed but he will have equity interest until it is paid off.

Also, there are opportunities to be a lender, or equity partner in real estate that is new construction around the area.

We decided to sell our house and take the equity to purchase a live in flip.

One way to go is a home equity loan and use those funds to repair you house and, hopefully, the rent you could pay that debt with rent money. 

You should also consider doing a HELOC if you have equity in your current property. 

I have nothing against sweat equity but time and sanity are worth something too.