Cash Out DSCR Refi Inquiry

[Tara Montgomery]

Someone recently suggested that I used a person (unknown to me but referred) to use their credit to help be refinance. I was told they would have to be 50/50 on the business with me and as long as they are at a 620 or a 680 this is doable. Has anyone done this before? Is this ok to do? My issue is my credit took a hit during renovations and I had to evict someone that wasn't supposed to move in a property. My largest goal is to get a refinance quickly. Also are appraisals always required I know that some companies used BPOs. The value is in the properties I just have to refi to get there if that makes sense. I could use the input from a more experienced investor as I am in a tough cookie at the moment and don't want to make decisions out of despair. Also if you have any other suggestions as time isn't my buddy at the moment.