Cheap cash SFR vs financed SFR or Multi unit for 1st deal?

[Jonathan West]

I'm a new investor, economics background which means I understand math and maybe am grounded about appreciation or lack their of, however I came across "The book on rental property investing" and I again am realizing how much I know nothing.

What I am learning as I digest what I can from the book is that capex on a smaller home is similar to capex on a larger property.

Also, the property I am looking at is under 25k, and is not a rehab (not to my knowledge, inspection pending.).  I was planning on pulling cash out so that i can use that cash again, however now I am uncertain if that is even possible on a property this small.

I am wondering what are others thoughts on this topic?

Do you know any lenders that will do a cash out refi based on rental income for an SFR?

Or with 1 day seasoning for less than a 25k purchase?

Thanks in advance!

Jon