Below is my real life example and analysis.Current Mortgage - 30 yrLoan Balance: $204,000Monthly Mortgage (PITI): $1,335Interest Rate: 3.25%Total interest paid over the life of the loan: $119,015New Mortgage - 30 yrProjected Home Value (Still needs to be appraised): 370,000Loan Balance (80% LTV): $296,000Monthly Mortgage (PITI): $1,750Interest Rate: 3.0%Total interest paid over the life of the loan: $153,026CalculationsTotal Cash in Hand after Refi and closing costs: ($296,000 - $204,000 - $5000 (CC)): $87,000Total Mortgage Difference over the life of the loan (12 months X 30 years X $415): $149,400Total Interest Difference over the life of the loan ($153,026 - $119,015): $34,011Total additional cost of refi for life of the loan ($149,400 + $34,011): $183,411Monthly Mortgage (PITI) Difference: $415What @Jeff Shumway is saying is the $87,000 gained from the cash-out refi, better be making you at least $415 dollars each month to cover the additional monthly expense difference.

Think Amazon or any retail or CC company would take cash for debt?  

Property appraised at about 417, got it for 405 with seller paying 10 in CC.  

So far we flipped a condo in Scottsdale and took out an interest free cc to pay for the contractor and furnishings.

You should be able to find a duplex in a C+/C neighborhood for that price or a single family in a B/B- neighborhood.

Email daily and cc your lawyer. 

Either way you'll likely need to put in a CC# before proceeding)3) Go to "Business Organizations', then under "Web Filings" choose "Domestic Limited Liability Company (LLC)" (or different, if applicable)4) Filing type -> Certificate of Formation (should be the only one)5) Fill out your info.The cost should be $300.

CC advance3.

Pay down the debt and put together a small emergency fund so you do not have to go deeper into CC debt.

After comm and cc the sellers lost money on the sale 7 years later