$495/mo rent indicates low quality area and low quality tenants who are willing to live there. 

On my out of state properties I pay a flat 10% and we've been able to build a strong and productive relationship.

Sounds like you should go hard money for the acquisition and renovation and then go with a no income/no seasoning or short seasoning product if you want to make it a long term rental. 

Hi All - I have substantial equity tied up in two investment properties (a 5 family commercial property and a 3 family residential property) which I would like to access through Line of Credit products.

So consider expected tenant quality in the area. 2.

Are the classes of substantial quality to demand that premium? 

I am just starting out and wanted to get quality advice.

Likely, will go with the lenders that already have a short sale or foreclosure lending product, for obvious reasons. 

The home was built with quality materials and has lovely,high end finishes (which  is expected in this price point).

There is variation in the quality and consistency of inspectors, as with any large operation.