Next, to address the previous post, you can't do a cash-out refinance under a 203K, it's a program designed specifically for purchase/rehab of owner occupied homes and does NOT allow any cash-out to the borrower. Fortunately, I may have a solution for you, my company has a product that we can do a cash-out refinance AND a rehab loan on a refinance which would allow you to be able to accomplish your goals, subject to credit and income requirements of course (this information is accurate as of this post). However, if your credit is really as bad as you say (this is subjective so I never assume, I've had someone think their 680 was terrible before), this option will not be available to you.
Lastly, I noticed that the previous poster has five posts all within the last day or two that all say pretty much the same thing, promoting two companies and the posts are in both related and non-related threads. This looks suspiciously like anonymous advertising. If the poster is from either of those two companies, it looks pretty obvious. If it is truly a happy customer, fantastic, I suggest though that you put your comments in threads where the advice you're providing is being solicited (review your threads, you'll see what I mean) otherwise someone may start reporting your posts.