You cannot refinance or sell the home usually within 3 years or you have to repay the down payment assistance. 

If you buy a property with the intention to rehab and refinance (BRRRR) to pull your cash out, you'll need to wait 12 months to use the appraised value with a conventional loan.

Is it that I'll purchase a new $1M property with all sales proceed, any then cash out refinance $450k afterwards to repay back the investor?

I'm trying to refinance so that I can free up my funds from my credit line that I bought the property with, so that I can repeat the whole process with another property.

Easier to refinance and retrieve down-payment? 

Try like hell for a loan modification, or a refinance with an interest only loan.

Have you considered a cash-out refinance? 

He asked what the purpose was and I told him it’s for investing in real estate to buy under valued properties to refinance or flip.

I'm currently looking into the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) and need some advice on structuring a deal for a house that's in foreclosure.Here's a brief overview of my situation:Property Value: According to Zillow, the house is worth $649,500.Current Loan Amount: $470,000, which is the current market value without any repairs.Funding: I'm looking for a hard money lender to cover 100% of the purchase cost and rehab cost.Tenants: I already have tenants in place.I'm working on getting the exact numbers for the rehab costs, but I would appreciate any advice on how to structure this deal effectively.

They were strongly considering one with the lowest down payment and the highest interest rate based on the "I can refinance this when rates go down theory".