If you see that, it won't help you.

There are some very aggressive investors that refi into interest only products to free up even more cash in the short term - this can be much more risky though, so not recommended if you are not very experienced and have large reserves.

Is this reasonable or do I need more money?

This allowed me, for example, to purchase an automotive repair facility with an environmental issue thru BK court for $115,000, remediated to issue for $2,000, and sell the property for $325,000.  

I am in the Tampa Florida area and I would be happy to help you out! 

As a General Contractor myself here in east central Texas, I can tell you that connecting with local GCs via Facebook groups can be incredibly helpful.

Ensuring your rental market can sustain these costs will help maintain profitability over time.The 7% DSCR loan is relatively high, and refinancing later at a lower rate could improve your long-term cash flow.

I recently helped a friend who was in a similar position - looking to tap into equity for a rental property purchase in Phoenix.

Is this an untapped business opportunity?

We are here to help you and each other, so ask away!