6 months seasoning if you want to pull out based on appraised value, instant if you paid cash and just want most of your cash back.

For those who don't and have relied on desperate sellers offering 20+% instant equity at closing the pickings have gotten slim.

One way I could do that is by only targeting (for example) NYC, Bay Area, Denver, Sacramento, etc, properties with lots of equity that will still be cashflow positive at 7.5% according to some AVM that I'd run on my portfolio of twenty thousand notes where the owner is in violation (they can see it the instant you put it in an LLC, even if currently they don't do anything), those properties thus flagged of course tending to be prime real estate and cashflow cows, and I'd let the "meh" properties remain in their LLC without doing anything.

We did that the other year back.. we found a small community, bought 33 TH, started the HOA, instantly adding a million in equity in the process.

Or did you do it out of laziness, the illusion of instant gratification, or because a ton of clowns here choose bandit signs too?

So I do and instantly fell in love with it.

I eventually told him my #1 concern was taxes, and his ears perked up almost instantly. he said one comment to me that changed my life and set me down this rabbit hole of REI.

I was instantly excused of being unprofessional and heartless. 

The point of refinancing is to have instant equity to use as leverage on another project.

Initial mailing campains arent going to get the numbers you are looking for (Instant gratification).