My Question is if i have a private investor loan me $70K for 5-7 years (his terms) at 12-15% (not compounded).

I enjoy helping Bigger Pockets members save time and money.Thanks Jay, I may get in touch!

Buy and renovate the property and in 6 months do a simple cash out refinance and pull out some cash and start the REI process all over again.I am North of you up in Pinellas County West of Tampa and there are also some great places up here that might save you some cash. 

I've been investing in real estate but am new to private lending. 

It’s saved me more than once from scrambling at the last minute!

You started with the $ you saved that had effect of securing just 1 property.

@Ryan Cousins it's really going to depend on YOUR analysis/projections of what you think the property will be worth in the future.You'll want to compare that to any capital gains tax-savings if you sell now.

For each property, I have a few accounts including a high interest earning savings account for reserves within the platform.

After spending 25 years as a Software Engineering and Product leader, I’m now exploring the world of real estate investing (REI) and looking forward to learning from all of you.My goal is to leverage my current investments and savings to build a real estate portfolio that will eventually allow me to transition away from my current career.

The saving grace is that it was purchased cheap a long time ago and will still either cash flow or yield equity even after repair costs