^ What Jeff Kehl said - between fees and taxes you might only be able to realize ~ 80% of the equity as cash once you sell. You should be able to easily find an 80% LTV cash-out refi and you get to maintain ownership of the property. Only do that if the numbers make sense to hold at that loan amount. I'd bet you could shop around and find decent terms on an even higher LTV from a community bank if you needed even more cash, but that could start to hurt your cashflow on the hold. Run the numbers, this could potentially help you more cash than a sale without diminishing your portfolio. You might be able to safely soften your R&M and Capex allotment in your analysis for 5-10 years depending on what was freshly replaced with the flip (roof, major appliances, plumbing, etc).
