Cash out refinance on subject to transactions

[Ivan Dudley]

Is it possible to cash out refi on subject to transactions and if so how long do you have to wait after the transaction is done to do so. I am getting two houses from my parents. One is totally paid for worth about 40k to 50k and other property has a mortgage of about 36k worth about 55k. We want to tap into the equity to stabilize the properties, rent themm out, and to do other investing here in the Charlotte area. What kind of options do we have to make this happen?