The amount you can pull will be based on the purchase price unless you've met seasoning requirements, which is typically 6-12 months to use the appraised value, OR you've done rehab.

From what I’ve found online, there appears to be a 6-month seasoning period before refinancing, but this may not apply to non-cashout refinances.

Both are seasonal markets due to the heat.

As a new agent, you'll be a complete amateur instead of using a seasoned agent who is an expert in negotiations, understands the market, has experience catching problems with properties, etc.A good real estate agent does a lot more than just find houses.

@Ray HageI agree as I would stay away from condos as between special assessments and increase of fees, what is the risk vs reward.Many of these buildings are run by people who are not property managers or have development experience and lack the knowledge to properly run the propertyAlso many don’t realize that on older buildings your initial estimate will be 30-50% less once the work starts, especially on older concrete buildings that are susceptible to deterioration due to the weather in these areas (especially the salt)

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

I purchased this older home last year ($120k), which appraised at $186k before closing.

And yeah, the only bad thing is the duplex is the older property with high possibility of pipes busting or two HVAC's going out.

Then you'd rehab the property and refi into something like a DSCR loan to get around the 12 month seasoning requirement and pay that back to your HELOC or the loan you took out.

Homes are generally older for the most part, but the return is very high.