Would you take on negative cash flow on a BRRRR deal?

[Jason Shackleton]

Let's say you just completed a renovation project and the appraisal came back higher than you expected for once. You now have an opportunity to pull out a ton of equity with a cash out refi. Would you do this even if it meant the property would be put into a negative cash flow position?

I personally would only put the property into a neutral cash flow position. I don't like the idea of holding any negatively cash flowing properties. I am curious what other BRRRR investors would do in this scenario.