What is the best way to cash out on a REFI for alternate exit strategy?

[Jeff Wells]

Hello all. The house we just finished has a total value of 45k. We have 22 into it. We JUST put it on the market and we think it will sell. However, in planning for the unexpected no sale, we can always rent it for 700-750 per month. For those with experience in transferring exit strategies from a flip to a rental, how, and where do you think the best place to go is to cash out and rent it. We were thinking, if it comes to this, we'd like to get out 30-35, rent it out, use the remaining cash to fund other projects. Could those of you who do this tell me the ins and outs of the best way to make this happen? Thank you in advance.