My concerns remain about lack of funds and needing a cash advance.

The resale value isn't as much of a concern as i maybe made it out to be.

Is this a possibility and what are the benefits / concerns to be aware of?

If tenant happiness is the concern, then there is one main use of the money, right? 

When I spoke with my banker they were suggesting me to go with cash out refinance because of the current concerns about inflation and interest rates skyrocketing with a HELOC if inflation goes crazy.

Our Concerns:- We cannot hold seller directly responsible for this as the county tax records show it as 2380 sq. ft. - The price we agreed is for 2380 sq ft. and the option period has lapsed. - When we put this on rent, can we calculate rent as per 2380?

That said, I don't think any of us has seen the entire contract so anything written here is just speculative interpretation concerning your legal options.

Hi @Lance Bradley, leverage is a tool indeed, and like all tools they can powerful when used correctly and dangerous when used incorrectly.You can certainly do "more" with leverage than without it, and cash is "cheap" right now, but I'd caution you against running headlong into a situation that many run into on this line of logic.  

I was considering that too, my concern is the downpayment cost for those as a first-time home investor.

Bit concerned as this is my first time restructuring my home and I've got no idea, the city notice I received said it is typically done in every 5 years.