and its just like banks when they sell a 8k home in the HOOD.. realtors will charge a flat fee of 2 to 2500 so more than 6%  ... anyway.. what ever floats your boat.. 

As the market matured, that number increased to several hundred to one.Are you just looking at the asking price and saying it won't work, or are you floating offers that work with your numbers?

First, I think these make a lot of sense if you've got a decent job and can float the payments.

A rising tide floats all boats!

If you can cash flow and float the monthly payments on the cash out refi do it, if you have cash that will be available to repay the HELOC in a short period of time do it. 

You can do this with concrete floats or power trowels.- Ask them to use edge trowels to smooth the edge versus leaving a sharp edge.

Even if you get floating rate at 6-8%, and it has a ceiling that you can stomach because the deal is good if the rate adjusts, the new deal just has to cash flow.

I just had a consultation with their company and I believe they said they are expanding into this market around banner elk, blowing rock, and the towns around Smoky Mtn National Park.

I have to pay $7k and float that while I request the draw for reimbursement.  

If you can afford to float the property or even better if it cashflows now I wouldn't be as concerned about the short term.