Cash out of rental without a mortgage

[Kellen M]

Hi all!  I am thinking of borrowing against my investment account to purchase a rental outright.  I would be able to get a better deal with an offer being submitted as an all cash offer.  I plan to fix it up and then rent it out.  Once rented I need to know my options for getting my cash out and keeping it as a rental.  I can't call it a cash out refi because there will never be a mortgage.  Can I just walk into the bank and tell them that I have a house that I want to put a mortgage on?  The amount I would pay is a lot less than the market value, so I am not worried about the appraised value.  I just need to know is it simple and what is the process called (if it has a name).  Thank you in advance for your responses!!

Kellen

[Josh Mitchell]

@Kellen M This is a "cash out refinance". If you don't have a mortgage on the home, and you went to the bank to refinance, you say you want to do a "cash out refinance" to..... pull your cash out. Have you thought about just leaving more in the investment account, and only pulling out enough for the 20-25% down payment required? Does the deal cash flow by running the number this way?