:)  I appreciate everyone taking time to provide feedback as I am not at all versed in how these types of ventures might be financed, outside of a possible SBA loan.  

its called a cash out refi many lenders do them.. talk with some good mortgage brokers if you can't get anywhere with the bank.also be advised and like reading the small print on this one Helocs can and do get called.... and with little to no notice.. for those reasons Heloc's should not be counted on for business ventures unless you have other capital if the bank decides one day to freeze your helocI have bailed out more than a few investors who got half way through a rehab and got their heloc froze and called.. puts them in a real bind.

I am trying to get a redevelopment project started but we are cash strapped due to our other ventures.

At the property as I will eventually move on to my next venture.

Additionally they are giving me a hard time about quitting my corporate job to pursue my own ventures.

Not sure if they venture down your way.

But at least, you should, in my opinion go through process of buying a house, before you venture out and try to buy a place in 3000 some miles away.    

So I'm totally new at this whole real estate investing venture.

@David Thompson, @Philippe LaurinThanks for the kind words.I agree 100%, and am already close to finalizing a first venture with a few equity partners for a total of roughly 500K to be used as a down payment for a larger purchase.At this point, I am still able to fund a big proportion of my deals, bit I NEED to figure out how to leverage OPM more effectively to continue advancing as all of my capital gets tied up.

I'm a dentist by day and interested in venturing into real estate to generate passive income.