Flips and exit strategies

[Rigo V.]

Hello everyone,

I am thinking about doing a flip but had a few questions on possible exit strategies if we end up getting "stuck" with the flip longer than we thought.

1) How long to do budget to sell the house? So after the reno is complete do you budget an additional 2,3,4,5,6 months for selling it?

2) If we end up getting stuck with the property for longer than we thought can we refi the house and save on the interest? how much of the arv does a bank offer? 70/75%? 

3) I was thinking we could rent the property but when someone buys the house wouldn't the tenant need to move out? would we need to do a month to month lease?