Set your goals/expectations then re-run the deal to see if it fits what you're trying to achieve and you'll have your answer as to if it is a good deal for you or not.

"Traditional banks have a fit on this kind of transaction" but investment lenders don't.

The real trick is finding the really distressed properties and fitting the rehab in.

It's a good option if the property DSCR fits with the financing.

Twelve years ago, when I purchase my first property, the realtors would search the area and filter the listings that won't fit my expectations, by scrupulously going through each listing.

Each deal is super different, so it's not likely you'll find something that fits into an exact bucket.Just as an example, my criteria for searching for deals is as follows:- Must be located near the Orlando MSA, Atlanta, East Memphis, Las Vegas, or Phoenix-Must be between 4-25 units and a max price of $2 million-Must have rents below marketI then look for everything that fits into those buckets and can then evaluate from there.

When these turn key duplexes came onto the market they were the perfect fit for our needs and at a very opportune time.

That's normally the premise behind waiting two years - it proves that your income isn't erratic and that you are a good lending candidate.While it may not be the best, and while you haven't disclosed the reason behind your seeking a loan, maybe you should look into whether a margin loan would be a good fit.

There is likely multiple paths so choosing the path that fits YOU is critical. 

Inform the lender doing the refi what you are trying to do and see if they have any loan products that fit your needs regarding your desire to invest.