Credit!

Read some other comments - I guess it is technically a cash out refi, but you're paying off a line of credit as opposed to putting the cash in your pocket which is what I typically think of when there is a 'cash out refi'.

Based on your numbers, and assuming you have a credit score high enough and have never filed for BK, you shouldn't have an issue getting approved for an HML to buy/rehab the property that I would estimate at about $370k-$375k (which includes 100% of the rehab costs).

Quote from @NA Hirsch: What service do you recommend for doing a soft pull on a potential borrower's credit?

They may also require US credit history, although there are a handful that will not require a US credit report for an increased rate/ reduction in LTV. 

Id go right into looking at local credit unions and small community banks for HELOCs (lines of credit) so you can have a lower blended rate and draw/payback as you please.For the 3F - Since this is free and clear, you would only be looking at 1st position options here in the world of financing.

Also Mike, why is cash out higher with refi, do you mean just with the credit union scenario? 

They started having a guy from a company called Pathways come to these events and get people to put 40k on 4 or 5 credit cards which put them in massive debt and wrecked their credit because of this dishonesty as well as other things said in the three days.2.

Credit unions, banks, mortgage companies and private lenders.They all had the same answer.

Any additional mail costs $.50-$.76 depending on the size... so to prevent you from having hundreds of $.50 charges on your credit card, the default "reload" is $50 (you can set this to whatever you like in the app).Hope this helps....