You want to see something that has low or no seasoning for a cash out refi.What is your draw fee & benchmarks for the repairs portion of the borrowed money?

I wasn't sure if they would hold off or not but they have raised the benchmark rates .25%.

Just don’t use this kind of loan for bridge funding.What is your draw fee & benchmarks for the repairs portion of the borrowed money?

I would preform a walk-thru once you have the unit and photograph the place to establish a benchmark of the conditions.

Also make sure you dont benchmark properties that just sit there and never rent, you need to track those who rent out quickly.

Most HELOCs are interest only payments and i'd rather not have to pay the HELOC interest for 2-3 years while waiting for the property to appreciate - it sounds like 1 year is a good benchmark to aim for. 

That way you get the price you need and there is someone with experience making sure all the important benchmarks are being hit (inspections, surveys, etc.).All that being said - would you cash flow if you rented the house out?

Money is made when you buy , not when you sell  Yeah I mean I guess this is true, but I suppose my confusion is how a property that hits every benchmark imaginable as laid out by members of this forum (1.1% rent of all in cost, <50% operating expense, 28% cash on cash return) could turn into such a burden on a simple refi?

That will give you a benchmark to meet.Ultimately, determine your WHY.

Zillow launched Zillow Price, a contest where two thousand teams of data scientists compete for a $1 million dollar prize for designing an algorithm model that beats their benchmark accuracy when compared to real-time home sales.