Hard Money loans are loan types that are TEMPORARY financing.  

So short story long I really don't see any reason to do a cash out refi...The way I see it with a HELOC I may have a higher rate, but it would only be a temporary expense as I'd pay it off with cash flow from my properties.

But people are just people even, We had once rent it to ex neighbor and become friends, because they need temporary housing since they sold their house and they haven't found a new place.

So... anyone out there ever succeeded with a creative offer to a seller to do a temporary seller financed deal while renovations take place before putting long term (30yr fixed rate) financing in place?

In my market, we have a temporary ban on STR's, but my property is R4 zoning, so as restrictions get tighter, my profits increase because competitors drop out one by one.

The tenant is temporary but her relationship with the HOA and the neighbors is a long term investment. 

u can either get a hard money loan (OPM), or try to qualify for a mortgage yourself. a hard money loan is only a temporary loan, usually used to pay for the house while you fix it up, if it needs repairs.  

I'm traveling to Hilo for 3 months from April to the end of June on temporary job assignment.

I work with individuals like yourself often that have $20-25k to invest and it is sufficient for these temporary bridge loans to get you through those first 30-60 days while you are obtaining the mortgage.

Situation:1) Bought house Primary residence on 10/1/2008 in VA and moved in right away.  2) Took new job assignment (assumed to be temporary for 2 years) within company 6/1/2010 requiring move to Hawaii.