So true compliance is hard and expensive to achieve.Staying under the radar per collective thinking (not via statute or solid facts more like guessing) is;  rent many phone numbers ($1/mo per number), send only 150(ish)  SMS pre phone number per day. 

Explore assumption of the existing loan, if permitted YUp you could end up with very real issues regarding title insurance with pre signed deeds. 

CLOSING: If you have your pre-approval from reliable lenders, then you should be able to close with a favorable loan option.

Here are some tips to maximize the use of leverage without paying for unnecessary interest:- If the cash out is being utilized for RE acquisition have a strong pre approval and try to align the refinance with the purchase.

I've been "analyzing" some properties on Zillow for practice and to see if this would even be feasible for me to accomplish, I haven't found any properties under 4 beds that would cash flow, however there are properties that have more rooms within my pre-approval price range that look a lot better on paper.

These were all sourced pre-CV19, so eat the fish and spit out the bones. 

In that case, and you are willing to provide the required income info, when you look at the TRUE cost of a loan (rate, up front costs and pre-payment penalty, not just rate) conventional will be the best option every time. 

@Anastasia MonroTo achieve financial independence in real estate, focus on boosting savings, improving credit, getting pre-approved for a mortgage, searching for properties with high rental demand, researching local laws and regulations, building a team, staying educated, preparing for property maintenance and management, and being patient and persistent.

> $100k/year pre-tax *poof* LOL

@Rahel Ketema - Like @John Warren mentioned you likely wouldn't have demo the whole ceiling to install ductwork typically we'd just have to build out soffits to surround the ductwork around a pre-existing wall running down the center or side of the house depending on the layout.A lot of your situation depends on the layout of your units and available space.