Question On the BRRRR Strategy

[Laura Costello]

Hello,

Last month I completed the refinance step of the BRRRR strategy and cashed out all of my initial investment! YAY!! I'm ready to repeat and looking/analyzing deals every morning.

Here is my question: If I buy and rehab and then don't find suitable tenants how successfully can I proceed to the refinance step (assuming I am 70% or better LTV)?

I live in IL and also want to know how long I have to wait to refinance and if it is better to cash out or should I consider getting a line of credit.

Appreciate your advise and expertise!  Thank you!  Laura