This is more typical in the commercial loan world I'm in.

These lenders are more flexible, especially if the property has equity and your credit and financial situation are solid.Here’s what you can expect: LTV (Loan-to-Value): The lender will typically assess the property’s current value and lend a percentage of that, often around 65-75% LTV for cash-out refinances.

That's a typical scenario and could cost you $10,000 - $15,000 so that would be a good starting point for your reserve.But there's more!

Closing costs include all typical including title and appraisal.

Rate - Typically on smaller props like this we are at 8-10%, so you're getting a good deal per unit cost there at $68. 

Hi Maggie,The biggest challenges in funding a fix and flip typically include:1.

Suburbia, typically, values space.  

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Typically you are hard capped at 75% LTV on a cash out refi. 

I had to grade and level the entire property and plant new grass and it's now one of the prettiest lawns on the entire black.