This implies that you are not likely to get a refi appraisal that is at top of market that is likely appropriate for a freshly rehabbed product.The LTV on refinance is typically 75%. 

You can't always count on appreciation; so unless you can show that kind of cash flow, its going to be difficult.I would look at areas where more companies may be investing and see if there are any properties out there, or house-hacking as others have implied.

It is remarkable how many newbies believe that rent > PITI implies positive cash flow. 

More than once I have been asked the specific appraisers name during that pre-escrow phone call (contract isn't even ratified at this point, the appraisal order is like 5 steps away), I think we both know what that implies is happening in some cases, for that question to even exist. 

250k equity implies an outstanding balance of 600k. 

I've done it but only when i'm trying to squeeze more money out of a third party while at the same time, being comfortable with it coming back to me as REO (That usually implies there is a senior lien/junior lien relationship of some sort).Some of it is art, some science, some smoke and mirror but its all in the effort to "true up" what you realistically expect to take as a loss when its all said and done, if you end up taking a loss.

If you'll be occupying part of the property and renting the rest, that also implies it's a multi-family property, which implies there will be common areas that you'll be responsible for maintaining. 

I've bought theirs plus Joe Bodeck (very good as well) and John Jackson the remaining 2 more lease option trainers. 

Maybe it's not what you meant, but that implied "current market value", which is what an MLS-listed property should sell for.20% - 30% below ARV might be reasonable, depending on the deal. 

David Tilney is the only national trainer that I know of who teaches besides his version of landlording (very good) but also master leasing.In all my self educatoin I have to admit I have not seen any training on master leasing besides Tilney...