My borrower is refinancing the loan to hold the property (BRRRR) and I'm wondering if the new lender will have any concerns with this policy. 

I mean, don't get me wrong, we have to comp the property...so if you are looking to REHAB the property and make it something different, then you need a rehab loan first and then refinance after type of thing. 

Want to get a loan for $250k in AZ

I bought this property with a private interest free loan from a friend. the person i bought it from need cash fast so i offered them a low cash offer and they accepted.I had enough money saved up to rehab the house with my savings.

Two things I remember that probably don't happen today: -First property was a no-doc loan, technically low doc because you still had to provide information but with 30%+ down pretty much anything you wanted was yours.

It will also allow you to pull some cash out if you have the equity and for tax purposes.You can have two VA loans at the same time but having two means that the second home may not qualify for 100%. 

Most lenders I work with would lend you 70%-75% of the value of the property, but only so much that your NOI/profit is 20%-25% of the monthly loan payment.

Quote from @Brittany Minocchi: I'm a bit farther north, but I've helped a couple of people with loans in that area - the properties seem to be working out well for them!  

Or, depending on the property you could go non-QM with like a DSCR loan and close in an LLC or partnership.

It's been disappointing when the fed cuts caused increases in the 5yr rate (that our dscr loans are tied to).