How are people staying productive at this time, particularly in terms of acquisitions? 

It is a bank foreclosure and from what I understand they’re unlikely to take less than 10% from list price, which still puts me at paying in roughly $600 a month if they even accept it.

Especially when starting out because you only pay interest if you are currently barrowing and only on that amount.To be clear, a HELOC (line of credit) and a HEL (fixed payment loan) are two different products with different benefits.To use a HELOC as funding for investment property can be a great tool and is one I have used a few times.

She had hired an attorney to draw up the contract and he informed me at closing that the lady had changed her mind and needed to raise the interest by a point and half.

Anyway, as prices are at its peak, I've decided to invest out of state instead, price to rent ratio just didn't seem viable to me at this point for buy and holds.

Yes, most lenders offer refi products, but you'll want to find one that works with investors and has investor friendly products. 

From what I hear about Jacksonville, it is appreciating, so that helps you, but perhaps you leave some meat on the bone to entice buyer to commit to future sale price.

Im hoping to go to her with a opportunity to be done with it, but at a price that has plenty of meat on the bone to justify everything I will be doing.

Approx $7,000k cash to me at closing for rehabbing costs.

Maybe find something with more meat on the bone.