I got an ad for Dominion in the mail the other day and was thinking about checking them out, 100% PP and 100% rehab sounds nice.

I had seen an ad recently from quickloans about something they offer, they give cash for the equity and then when you sell the property they are paid?

My strategy in Arizona has been adding bedrooms and renting by the room - currently getting 850-950/room in nice neighborhoods.

Will I only be able to mortgage the purchase price and costs, or will I be able to do a full cash out refinance and tap into some of the added equity of renovations?

Hi Shak,If you have added value by doing upgrades to the property, I do know of programs that can do it with no seasoning.

they're often much more expensive than they appear because they have deferred maintenance that has been adding up over decades. 

I do not see that home prices have dropped 2-3% and this is a lot of added savings in additional to a downpayment if so. 

Take the few extra hours it may take to originate the bank loan and divide it by the added finance charges and its normally more than most borrowers time is worth.

I haven't added the 11th, the one that lost about 60% of value. 

My figures are below.TaxDeed Winning Bid: $489.00 (My Bid May 2013)Property Clean-up: $450.00 (mowing, trash removal)Taxes & Insurance: $80.00 (2013 & 2014)Sale Advertising: $130.00 (Signage, Newspaper Ads, etc)Filings & Legal Fees: $245.00 (Deed, Lien Releases, Sales Agreement Docs)Total Costs: $1395 (approx)Sold for: $3250.00 (August 2014)That is better than the 25% I would have received if the property was redeemed during the redemption period.