The mortgage holders may call you to pay off the mortgage (refinance) if the deed is moved over to a LLC. 

That said, I'm unfamiliar with the market and would love to meet with other investors who are finding some success (and mishaps) to help refine my game plan.If there are any REI meets ups please let me know!

If you are looking to hold long-term, I would bring on a private lender for the rehab and then refinance and pay them off. 

I just don't understand how a cash out refinance works and what the benefits would be for it as opposed to simply purchasing the home and renting it out without doing the reno and refinance part of it.

I have a house that I need to refinance.

with a flip, a firm majority of lenders on the permanent refinance side require a minimum of 6 months of title seasoning.

Is it possible to find a hard money lender who will pay 100% of the rehab costs up front and then receive their return 6 months later during the refinance process?

For our bookkeeping clients, as a placeholder, we usually do an 80 (building) / 20 (land) split until we have the correct figures from the county records (it takes some time for those to post sometimes) so their bookkeeping records show something we can refine later.It looks like you got some good insight from others too!

If you are buying a turn key and do not expect to take cash out for a few years just gauge that on your prepayment penalty years.Rates vary depending on credit scores, LTV, DSCR ratio, Loan amount, Property type, number of units.Good news is rates have been dropping so DSCR may not be a bad option if you buy and simply refinance in 12-24 months.

If you are lookign to occupy the property as a primary, then you'd need to look at the conventional (Fannie HomeStlye Reno loan for example) or FHA (203k loan for example).As for the takeout, again so long as the ARV is strong enough to support it, you have credit and income to qualify (if you go the Conventional DTI route as opposed to DSCR), you should be able to refinance into a long-term loan no problem.Feel free to DM me if you'd like to chat more on this!