You'll probably want to look into having your assets held in a living trust or some other kind of trust if wishing to avoid probate in California.As to your question about the mortgage, there's a federal law that the attorney might be referencing that generally protects transfers into a living trust from causing the need to refinance, but would need more details to discern.

Locally, I look forward to soon having my VA loan seasoned to refinance and fully rent out, and acquire another property. 

Roofstock keeps refining their business model and it should become more and more sophisticated over time.

I see a lot of new investors buy something turn key and end up either over paying or due to the market not being able to refinance for 5 years.If you have any questions feel free to reach out or email me I enjoy helping BP members.

Our rentals are on conventional loans but if/when we refinance or get into the next deal I'm aiming for DSCR.

Quote from @Zachary Engen: Ive read a few things about onlying being able to cash out refinance 75% or the purchase +closing costs, whichever is lower.

Think I was just tired when I posted that and after I posted I was thinking it was a waste of a post since it can’t be done anymore anyway.I think a good option was as Jay mentioned, to buy with cash and refinance later.  

I’d be very grateful for any advice or recommendations on how best to approach these modifications.Also if I were to refinance in the future to pull out cash from the property, is this something that banks could refuse to lend on if I have code violations of lets say a wall that was moved or removed?

I own a couple rentals in the area that I am looking to refinance.

Always trade offs, especially depending on how long that buyer is looking to keep the property, or refinance.