Unless you lie about you residency, the max LTV on a cashout would be 75%, which puts you with a mortgage of $435k (getting only $45k in cash), non-owner occupant properties have higher interest rates, so you likely in the 3.75-4% range for 30yr.  

@Brandi Croom Would you share a link to something in the 150-200 range that can be fixed and rented for 1900?

I'm finishing up a rehab in my residence and realized I want to rehab single-family/small multi-family properties in the 100-200k price range, then either flip or hold depending on the property.

So currently the market I'm in, homes sell for an average price of 250K and range from 200K to 300K. 

We are located in the Colorado Front Range.

I am from bayarea and exploring out of state investment options.One of my friend moved to NC recently and he is recommending to invest in either in holly springs or Fuquay-Varina. properties in holly springs went up in last one year. i have seen some properties in FV which are below < 350k range and rents around 1500-1800$. if my goal is property appreciation, which one would be the better bet. or are there any other areas which has potential to grow down the line other than these 2 areas?

Rehabs range from a quick kitchen/bath/flooring remodel to a full gut. 

I have gotten 4 quotes so far and the premium ranges from $640-$1,000 a year.I'm purchasing the property for $60k although market value is about $95k.Not sure how much coverage I should have on it.

@Kim Ehardt other texas markets can work in that range. 

The property that I have assembled is approximately 700 acres surrounded by homes ranging from $400k to over $2 million.