Make sure that that person has a lot of experience, and make sure that there is at least 20% - 25% equity over and above the amount that you have lent and in your agreement it states that they can have no other liens or loans on top of yours.

If I were to approach a seller of a $200k home, and they had a remaining mortgage of $100k, could I get a new bank financed loan for that $100k, and have the seller finance the remaining $100k of equity to me?   

My question is: How do I properly take the interest that my LLC has put into the new LLC and give it to my person for the purposes of getting a loan from the bank through a refinance.

Sounds like a cash out refinance would be the best way to tap into that equity. 

In a way, I think the BRRRR process is really the process of "adding value" to a property and then pulling out that forced equity as much as you can.

You have a decent loan on the place that you won't be able to replace from a cashflow standpoint.So keep at it. 

The process of buying, getting a loan and settling to closing was extremely smooth.

Instant equity just seems to save everyone in the deal.

You can't pull money out if there is no equity.

It can come from a personal investor who will negotiate terms, or potentially a piece of the equity.