It seems like you are more concerned with where the money goes and how it gets there when you obtain it. 

It's always essential to dot your i's and cross your t's when taking deductions and preparing your taxes.

Originally posted by @Jaquetta T Ragland:@Isaac Gwin have you tried any off market methods?

I wanted to make sure I understood if the reason was something else, like that my understanding of refinancing was wrong.And @Max T. also good points - I didn't realize closing costs were higher, and I wasn't thinking how buying with cash off the bat means I can offer less and close more quickly, giving me an advantage.

If the seller and the boss are still on good terms maybe the PR can be obtained but it may not be easy or fast.

I am supposed to close on a property in 20 days and have asked my agent to obtain this letter, his response is -" We won't get them back until closer to closing, you want that information to be accurate when ownership is transferred."

I've been obtaining a lot of information, and I have considered purchasing a duplex with a FHA loan and living in one side.

@Chris Bounds t te bank you.

Here's a simple example (because I'm a visual learner lol):Assumed ARV = $115,000Purchase Price + Cost = $45,000Rehab Costs = $35,000All In Costs (total above) = $80,000 financed fully by a HMLBut then the appraisal comes back at $100,000 and you're only able to obtain an 75% LTV, meaning you'll only cash out $75,000.

I’ve been involved in the sale of property when probate was involved a handful of times, and to my knowledge they were able to obtain 100% of the proceeds.