@Greg DickersonIf I were to get a hard money loan for say 750k for purchase, and the value of the building is more with some improvements, could I do a cash out refinance through a bank for the new, higher, appraised value?

I just have a lot of equity in my home from the improvements and I would like to pull that equity out and pay off the personal loan I used to help with the remodel. 

Our operation is in the great Lansing Michigan market, I have a team of licensed agents as well as handymen and office staff. 

You have to purchase it and then substantially improve it to qualify. 

Quality support staff can be a hard thing to find for this profession. 

Depending on what's hurting your credit (you said not good), sometimes there are strategies to easily improve it, sometimes significantly which will allow you to get your own gap funding.

(adding 2 floors complete re-purpose) The builder claims that the improvements will more than make up for the poor cash flow by improving the value of the property substantially.

Assuming that the market and neighborhood where the property is located is steadily improving. 

That’s how I’ve had so much success with STRs - Whenever I’m entering a new market, I just find a couple of properties in that market that are crushing it, and I copy them (while also finding 1 or 2 ways to improve upon their offerings as well)

He should have talked to you about bonus depreciation and how to categorize your expenses and improvements during renovation.