Private Money Lender & Multifamily Refinancing (Questions)

[Mike Dusenka]

Let's say you use a private money lender, so you pay cash for a multifamily property and the rehab costs. Is it more difficult to cash-out refinance after you raise the value of the home compared to an HML or traditional loan?

I understand multifamily's value is appraised NOI/CAP=ARV compared to how "nice" a single-family home is correlated to its comps. Besides how the property is appraised, what are the differences between qualifying for multifamily refinance compared to a single-family refinance?