This can be conventional or DSCRB) Conventional cashout refi - will need at least 6 months on title if no mortgage on the property (I think - going off of memory), 12 months seasoning if there is any kind of mortgage/lien/loan with the property; will be based on improved LTVC) DSCR cashout refi after six months of seasoning (most cases), and this will include any improved value of the property in the LTVMost cashout refi's will be limited to 80% LTV.

The good subs in your area will likely have plenty of work already and may not even return phone calls.

Quote from @Conte Cuttino: Makes sense @Andrew Freed so say if we I can make it additional legal space, do you think the 107K left in the property for the return is worth it or should I sale and move on? 

The account does not have to be an interest bearing account but if it is, then a portion of that interest earned has to be returned to the tenant annually.

It’s one of the few places where you can realistically achieve solid returns without needing a massive upfront investment.If you’re open to exploring other markets, Detroit might be worth considering.

@Nicholas DillonI concur with @Vessi Kapoulian comments.Promised or projected returns do not mean actual returns.

The market does offer lower priced investment opportunities and higher cashflow returns, with ongoing revitalization projects like the DORA boosting appreciation potential.

What I mean is, some investors look strictly at cash on cash return, some look at cap rate, others just want to make sure their mortgage is covered.

Since I've invested that cash in a simple S&P index fund and have had 20%+ returns the last 2 years.

Happy to provide feedback in return and share one of the lead magnets we’ve recently created for review!