I run sum numbers for you please see comments below before refinancing and post refinancing .If I were in your position, I would approach it as follows:Initial Investment Assumptions: Market Value: $360,000 Purchase Price: $360,000 Equity: $0,000Financial Breakdown: Hard Money Loan (LTV 100%): $360,000 Interest Rate: 10% (30-Year Amortization) Monthly Payment: $1,995Upfront Costs: Origination fee (1%): $3,600 Closing Costs (3%): $10,800 Renovation Costs: $10,000 2 Month of Carrying Costs During Renovation: $5,390Total Upfront Required: $29,790Total Capital InvestmentPurchased price $360,000 Upfront Costs $29,790Total: $389,790To make this investment work, you need to rent the whole property for at least $3,165/month, refinance it let say after one year with 5% interest with a traditional mortgage.Year One Rent: Monthly Rent Income: $3,165 Monthly Rent Losses during renovations (2 Months): -$6,330 (-$527/month distributed over 12 months) Total Rent Income: $31,650 per year => $ 2,638 per monthMonthly Expenses: Hard Money Loan Payment (10% Interest): $1,995 / per month interest only Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $292 per month Assuming 0% Vacancy first year Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $2,637Monthly Net Cash Flow: $1Post-Renovation Refinancing Strategy:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate your initial investment of $29,790 plus your 360k debt into a mortgage.

I see some lenders out there would just pick the "lowest" rate and the client ends up paying more than 1% of the loan amount at their closing costs.Key point is "Lowest" rate does not mean the cheapest rate  I have worked in traditional community banking for over 7 years.

I have since transitioned to Baselane for my banking and bookkeeping purposes.

Unless you are getting a bank loan and are willing to accept higher interest rates and balloon payoffs, buying within an LLC is not a clear-cut decision.An LLC can be created very quickly and should costs under $1K, but you need to know there will be costs and time to maintain that LLC every year.  

The company’s claim to have relaunch failed big name retailers is complete fiction.b.

Yes, I've heard that with first bank, but to be fair, I've heard many people complain about all 3 of them.   

Quote from @Kelly Bankes: Thanks for this info, Rob.

I have a background working with banks, hedge funds and large infrastructure developers, and have been told my sales and negotiation skills could be leveraged in real estate, particularly in wholesaling.

Once you have the LLC and IRS Employer Identification Number you can open a business bank account to track rental income and expenses. 

You will need down payment money, You will need cash reserves Money, you'll need closing costs money, and you will need to get a bank loan.