It was a pain trying to refinance but totally worth it. 

Something to consider to is that if you are able to refinance after the addition and pull out some or all of your new investment and the cashflow still makes sense then by all means I think go for it.

The homebuyers program I went through wouldn’t allow me to just pay off the remaining lien they said I needed to refinance or sell the home.

Without having a credit score you can expect to have a 10% reduction on the LTV or loan amount towards a purchase or refinance.

Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lender•Appraised Value: $160,700•Monthly Rent: $2,150•Cash-Out Refinance: $3,200 after paying off private lender and myself•Rate and Term Refinance: 30 yr amortization, 7.25% interest, 70% LTV•DSCR: 1.45% Lessons learned?

Keep it simple - sell the property and let each sibling do what it is that they want.If you keep it and do a refinance(to pay for the bills)Who will be on the loan, will it impact everyoen's DTI?

These loans are short-term as you mentioned, typically 12 months, so you'll need to refinance before that balloon comes due.

Buy, Rehab, Rent, Refinance, Repeat.

Start by building a solid team, analyzing deals carefully, and making your first purchase to test and refine your strategy.Good luck!

@Zongfu LiWhere are you trying to refinance (what state?)