I have a rental property that I fixed up in Norfolk, VA with 100k in equity.

Its been 4 years since I sold it and by now would have over $100k in equity from mortgage pay-down and appreciation.

Depends on the bank.In your example, owner had a $750k note to the bank, and nominally $250k in equity, They now want to refi.

Not realistic for most risk adverse individuals but they need to understand that for every 100K in equity you reduce your cash flow by $866/month. $866 is the lost  "opportunity" value (10%) of your precious DEAD equity. 

Do you know if Spartan or other good turnkey operators that get the investor in the process earlier to afford a lower price and more built-in equity? 

Seller still owes 108K on the mortgage but has a good chunk in equity.

There was a post a few years back that got like 100  Atta boys from the BP audience with no concept of the risk the folks were taking.W 2 folks  nice run up in equity in LA.. 

I would view it in salary terms:  consider it 60 days full time work at an annual rate of $100k, so about $17k as a one-time fee for services IMO would be fair, chipped in equally from the three cash partners, and then year 2+ all cash flow would go solely to the cash partners. 

I will have about $50K in equity in this property so not sure if that is considered a lot or equity or not. 

As of right now you have $1.765M in equity, wasting away, that is only worth $2.3M in Property Value.