Seems like a really balanced and prudent approach.

To get this amount through a cash-out refinance at 80% LTV, the home value must be at least $453,800 after one year.Based on your report your ARV right after reno is $425,000Add a 8% home appreciation for one year $34,000Estimated Home Value After 1 Year:$459,000Assuming a refinance after 12 months with a property value of $459,000: New Home Value (Post-Appreciation): $459,000 New Mortgage Amount (80% LTV): $367,200 Existing Debt Balance after 12 months: -$360,000 (because you have been paying interest only) Assuming Bank fees on New Mortgage: - $200 Cash Pulled Out: $7,001, allowing you to recover to pay only 7k on your initial investment of $29,790, leaving $ $22,789 in the deal.Many new investors mistakenly believe the BRRRR strategy ends after the cash-out.

The vast majority of "regular" or traditional (Conv/Govt) mortgages are originated by specialty lenders and brokers and are sold in the secondary market to provide yield on bank balance sheets (think Chase or BoA) or to be securitized into MBS.

Don’t forget this can’t be done in Las Vegas proper.

My Hard Money Lenders held the money in escrow and would not release the funds until the work was done, inspected, and they knew it was properly done. 

@Tom Stevensonyes, when I BRRRR I typically use my own cash for the down payment, and a hard money loan for the balance. 

Also now clear that the lender is not doing their proper due diligence or even reading what we are giving them.  

Focus on a market that has a good balance of cashflow and appreciation (some markets have great cash flow but very little appreciation or vice versa). 

The algorithm is properly ignoring your listing now.

Balancing rental income, appreciation potential, and location can provide a primary home and a long-term investment portfolio.Good luck!