Cash Out Refi- NW Tennessee

[Malia Irvine]

I am trying to purchase a duplex at $25k. My plan is to BRRRR. My concern is amount I would get out to pay HML with cash out refi. I predict it will currently appraise around the $45k area untouched. It's a small town so not many comps. I'm think of putting maybe $30-35k into it to be a commercial loan of 60k max and hoping to bring the value up to around $80-85k+.

PP 25k (personal loan)

Rehab 30-35k

All in 60k

Possible ARV 80K (Low end)

80% LTV on cash out would be 64k. Are these numbers too close?

Is there a holding period to cash out refi if I bought with cash with my personal loan? And no money is needed down if it’s your property, correct?