Both are %8-9 APR but I will quickly cash-out refi once the rehab is complete in 1-2 weeks so I've only had to make 2 payments on each loan thus far.Rehab includes:Full Bath RemodelFull Kitchen Remodel w/ butcher block countertopsNew FurnaceAdded Central A/CUpdated ElectricalUpdated PlumbingRefinishing of original hardwood floorsInterior paint and trimExterior patch and paintRoof was only 4 years old a time of purchase and foundation is solid.Purchase Price: $42.5KRehab Cost: $30KTotal: $72.5Comps: $90-140K (Average $115K)Potential Profit: $42.5KFinal decision on whether to sell or rent will depend on appraisal.Photos will be uploaded within 1-2 weeks once complete.

Inside I painted the entire place to give it a modern clean feel, added a kitchen island w/ butcher block.

I agree with @Joe Butcher.

Pretty sure I butchered that. 

It's the most basic formula there is...and the one that many seem to want to butcher the most.It's ONLY about cash, no "virtual" money, no assumptions (vacancies, etc...), no appreciation or depreciation impact, yes on the debt service, yes on the insurance and property taxes if paid during year 1, yes on your down payment (it's cash, right?)

We did butcher block on the counter tops.

@Marcia Ramich Yes, I would stay away from Data Zapp and Data Finder.

butcher block?)

@Jose Bordes I usually use butcher block countertops for this reason.

Who the hell butchers a door casing to hang a new door?