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.

Total hands off, perfect property, with awesome tenants who pay on time or early and never ask for any repair. 

If cybercrime industry was a country in 2021, it would have been the world's third-largest economy after the U.S and China, totaling a 6 trillion USD in inflicted damages.

If the answer is not obvious, remember the relationship between appreciation and rent growth so the answer is the same for both questions. 

As a general rule of thumb it's smart to pay for 10 - 20% of the total costs (purchase price + rehab) out of your pocket and then finance the rest with hard money. 

I totally agree.

I recommend at least 10%, and obviously, something closer to 20% is a lot better.Is the borrower going to live in the home, or is this an investment property?

Doing it that way also allows you to get a general idea of how much income is needed to at least be close to breaking even. obviously being close to the break even line is not where anyone wants to be but it is interesting and useful metric.

I did some mobile home deals down there (4 total) and the change in immigration laws and the recurring storms has really dented the demand down there. 

Obviously if the value is low that's one thing, but what if I pay and they deny me for some other reason?