A cash-out refi could allow you to set aside some funds as a reserve or at least pay down your debts so that your lines of credit (credit cards etc) can act as your emergency reserve when more bad things happen. 

You are VERY easily able to open accounts remotely by just uploading your EIN doc and then once your biz account is open you can open additional accounts for things like holding your security deposits, reserves, etc.

@Jason Wray I actually already work with the Federal Savings bank and am currently refinancing one of my properties with you.

And other questionsIf I was reviewing this for one of the investors that buys SubTo deals from me, I'd want to renegotiate the down, remove the balloon, make sure my investor has 6 months of payments in reserves, make sure my investor can qualify for a refinance in the even the Due on Sale got called.I would need more answers to know if I would do the deal. 

NOI Underwriting Methodology: NRI and EGI, real estate taxes, operating expense underwriting rules of thumb, replacement reserves, appraiser’s impact on lender underwriting, expense comps, etc.10. 

We had been expecting that money to replenish our reserves and so we were somewhat distressed that not only would we not be getting our funds, it was happening at a time when we really needed the money!

Bottom line sub too is an advanced strategy that should only be done by Experienced investor with significant cash reserves or access to lending/like substantial LOC that already exist and can be taped at a moments notice. 

I'd recommend having enough to close on the deal + rehab + $5k in reserve as a minimum. 

My ultimate goal is not using my savings during this process, because I want to train myself from the onset to think creatively and not deplete my reserves instead of finding a better deal or more productive relationship.

It can certainly be done, but I'd recommend having a solid contractor on your team and holding a fair amount in reserves.