4 years ago, a business partner and I bought our first investment property.  We had an extremely hard time getting a loan as we bought a Condo and my partners credit score was pretty low and we went the conventional loan route.

It has been rented 4 years straight with a CoC return of 14% and has appreciated 85%. I've now convinced my partner that it's time to actually start doing more investments now that we have enough experience to be dangerous :).

My question is, we want to do a cash out refinance on the condo so we can get money for our next buy/hold property. One of the biggest problems we had was due to the HOA on a condo, and the % of investors to personal owners in the complex. I'm assuming these problems will still remain. Or, since it's a refinance and we can show positive cashflow / steady renter for 4 years etc that the process will be less stringent?

My second question is mortgage broker or bank/Credit Union?  BofA is saying it will cost 3k to refinance, which I think is ludicrous!  The comps in the same unit are selling for 130K, so 3k refinance seems extremely high.