Hi Jeff - what about refinancing your current home into HomePossible (conventional financing), live there for one more year since you would need to occupy as a primary residence for one year past closing, and then use the FHA loan to acquire your next multi-family? 

Yes, value will increase but it doesn't matter if you aren't tapping into it (via refinancing or selling).

Lets say you dont want to sell...You refinance it again, but then you may be get stuck with a property that you have a mortgage on for 100K but its worth 50K because the market is down and you refinanced it when the market was high, and now you have a problem..I am trying to see if I am missing something...Thank you, guys

We just completed two refis in Providence but the appraisal didn't come back at the target and I'd love to hear any stories from local investors who've followed a BRRRR strategy. Hollis St -  Realtor.com $207,000,  Zi...

Doing either or would be my very first of either refinancing or doing a 1031 exchange so I would preferably like to weigh out my options and decide what would be best and fit my goals the best.

If you have credit challenges, and are unable to get refinancing, I'm afraid he may be able to take back ownership of the building and you lose your $30K.

I'm working on our first BRRR of a Duplex in Concord & I was curious if anyone had experience cash-out refinancing with local banks.

Make sure it projects the appropriate CF you require after refinancing. 

We refinanced when we moved and pulled out as much as we could.  

I figured if I could get the contract closed I could get the property refinanced a later time.