And the refinance is not a taxable event.

There are a couple of companies out there that will let you do a cash out refinance with no income!

Many banks wont touch deals that are sub 90% occupancy, so you could negotiate short term seller financing to help give you runway to make the building bankable for a refinance while you reposition it.

I plan to BRRRR this property to pay off the seller and get my money out and was wondering if you anyone has any suggestions on banks that can do refinances for mobile homes.

Currently I am reading "Buy, Rehab, Rent, Refinance, Repeat" by David Greene and tuning in to a lot of Brandon Turner video and content.

My husband was able to consolidate and re-finance the debt after we executed the deal but this was only possible because we bought a VERY modest property of 70k as a learning tool to really see what buying a home in CR would be like. 

Id generally like to buy and refinance 6 months to 1 year down the line and scale up bigger rentals. 

Once you fix it up, you could refinance to pay off the HML.If you do it right, you should have enough sweat & forced equity to have 10-20% equity for the refinance.

Quote from @Devin James: When running numbers on an investment property, I focus more on equity growth than monthly cash flow.Here’s why:If I can acquire a property at a low basis and add significant value, I can: 1) Sell and reinvest elsewhere 2) Cash-out refinance to recapture my investment.

This deal aligned perfectly with my strategy to build equity and cash flow while leveraging hard money financing and refinance opportunities.