Shayan,Best option to avoid issues and stay risk free along with having a better approval chance would be to go with a Cash out refinance.

But feel free to share more if you'd like.

@Martti Eckert I live in Los Angeles and have done a handful of BRRRRs in Missouri so feel free to reach out with any lending related questions to pulling off BRRRRs in Ohio. 

BTW there is a free trial and the Starter monthly plan is $119.It also allows you to search through consumer information such as property owner "credit worthiness," Credit card usage, buying power, age, language, family members in the house, and many other fields that are above and beyond property characteristics, which is unique.

For me, if I make $1500 net per month on a free and clear property I would make $18,000 / year.  

There's a free 7-day trial for you to poke around on those forums and learn more.

Hope that helps, and feel free to reach out if you want to dive into this more!

I would be leveraging my relationship with my family member to wholesale the property for experience and getting them for investment in my real estate business while my family member gets rid of a property, hassle free, while getting paid.

I’ve been involved in real estate investing for over 30 years, so if you ever have any questions or need guidance, feel free to reach out.

Yes, at first it is hard to find renters but because of my patience, trust, perseverance and dedication, I am now living my best life and living financially free.