If interest rates fall later, refinancing again might require you to bring extra funds to the table, which could impact your overall investment strategy.

Luckily I was in a buyer's market at the time, but about 75% of agents did not even respond to me and I could not set up appointments online because I was not a MLS member.   

They had purchased a home in Waldo in March of 2023 and refinanced to pull cash out to buy the new home in Lawrence.

Been getting nowhere with zoning laws found online and in the local library for Yonkers (in westchester county) as to whether any permits are needed in order to operate such a business. 

I assume the sellers are offering seller financing since obtaining a traditional mortgage or refinancing to one after 7 years for this property is highly unlikely.

For BRRRR, the key is ensuring your post-reno appraisal justifies the value for refinancing to pull your equity out.

@Keetaek HongI use QuickBooks Online (QBO) for my flipping business, rental businesses, and bookkeeping clients.However, many on the forums will advise against QBO.

If you purchase online, find a retailer that has the delivery window at the point of purchase.

For the refinancing question, if you are adding square footage, adding a bathroom, or adding a full room etc.

I run sum numbers for you please see comments below before refinancing and post refinancing .If I were in your position, I would approach it as follows:Initial Investment Assumptions: Market Value: $360,000 Purchase Price: $360,000 Equity: $0,000Financial Breakdown: Hard Money Loan (LTV 100%): $360,000 Interest Rate: 10% (30-Year Amortization) Monthly Payment: $1,995Upfront Costs: Origination fee (1%): $3,600 Closing Costs (3%): $10,800 Renovation Costs: $10,000 2 Month of Carrying Costs During Renovation: $5,390Total Upfront Required: $29,790Total Capital InvestmentPurchased price $360,000 Upfront Costs $29,790Total: $389,790To make this investment work, you need to rent the whole property for at least $3,165/month, refinance it let say after one year with 5% interest with a traditional mortgage.Year One Rent: Monthly Rent Income: $3,165 Monthly Rent Losses during renovations (2 Months): -$6,330 (-$527/month distributed over 12 months) Total Rent Income: $31,650 per year => $ 2,638 per monthMonthly Expenses: Hard Money Loan Payment (10% Interest): $1,995 / per month interest only Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $292 per month Assuming 0% Vacancy first year Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $2,637Monthly Net Cash Flow: $1Post-Renovation Refinancing Strategy:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate your initial investment of $29,790 plus your 360k debt into a mortgage.