@Daniel Dollar You're on the right track...here is how your scenario would lookInitial Purchase$100,000 Purchase price$25,000 Down Payment (75% LTV on residential non-occupied...conforming loan)$2,000 Settlement charges $1,000 holding costs$20,000 renovationAfter reno appraised value $200,000Refinance (cash out) at 70%LTV= $140,000-$75,000 (original loan payoff)-$2,000 lenders closing costs=$63,000 cash out with a new lien balance of $200,000 (this is what your new mortgage is based off of...plus you'll need PMI now since your lien is more than 80% of the value of the property)Now start to pay yourself back from your original out-of-pocket$63,000 starting cash-$25,000 original down payment-$2,000 settlement charges-$20,000 renovation-$1,000 holding costs=$15,000You came out positive here, good job...but look at your property...saddled with debt and likely zero cash flow.BRRRR really only works well when you are buying at .50 to .60 on the dollar and have a reasonable renovation...and its really not a good idea to use in most scenarios...certainly not a good way to scale. 

She even had horse saddles resting on the upper railings. 

Armed with new information, new courage, and my money intact, I'm back in the saddle.

Family is the easy answer.. and I guess in my child rearing years I wanted enough to support them well and put both my kids through collage on my dime.. so they were not saddled with student loans..

Saddle creek title and executive title

Needless to say this tenant ran up a huge utility bill(over $200) and my PM company saddled me with that bill. 

the whole city would burn down, you know.i have a buddy that was told by the inspector to fix the chip on his tub, but not a word was mentioned about the illegal saddle valve for the ice maker. they are idiots. that's why i dont pull permits for the stuff i do myself.

What I find most disturbing about the housing bubble is that so many financially naive people got caught up in it, and ended up saddled with debts that will leave them impoverished.

We used to ride an aluminum scoop shovel tied on to the saddle horn with a 50 ' lasso rope and turn crack the whip corners.

If we consider "youth" high school and younger, my favorites were probably The Sting, Casablanca (no, I'm not really THAT old, but I liked the movie), Blazing Saddles, American Graffiti, The Exorcist, and probably a bunch of others I can't think of.