We refinanced our house several years ago to decrease the length of our loan to 15 years which increased our monthly payment a little but has allowed us to make faster gains toward the pay off. 

I have also seen cash to close on some houses less than 15K before refinancing to a conventional loan. 

This can be done by rehabbing and refinancing. 

@Kristine Pedersen I agree with @Jason DiClemente to go with a HELOC over refinancing.

We are researching home equity loans, home equity lines of credit, and the possibility of refinancing our current mortgage to free up the cash needed to make those improvements and make the down payment on the multi-family unit. 

If so, I'm happy to connect you with a couple lenders you can speak with to get that refinanced!

I am the other side of the coin and could manage to qualify but need to bring 20% cash to the table and have entertained a hard money lender on a 1 year term before refinancing and paying out the lender. 

I wish I had been better with money earlier - I had a lot of debt which I refinanced to pay off, otherwise the mortgage would be so low now that it would cash flow easily!

Strongly recommend you get pre-qualified for the Refinancing before purchasing a property. 

My guess is the two numbers under debt coverage relate to 1: the first purchase loan, then 2: the refinanced loan.Do you have a Lender who'll let you borrow 100% initially?