You'll find some here that say yes, and others, no....It depends on large your operation is and how well you are insured otherwise.

The rate you will pay depends on your taxable income.

It would be more expensive rate wise not closing wise to get a higher interest loan for the 12-18 months while waiting for the permits, also depending on the term of the loan.

It depends what you are trying to achieve right?

For cash out refinance DSCR, you can typically get up to 75% LTV (I have seen one option for 80% LTV depending on what you qualify for and the property location).

Thanks in advance Florida is a super lien state, so depending on when the condo was created the entire lien amount could be owed by the buyer or a portion (I believe lower of 1% of the purchase price the person being foreclosed upon paid or 12 months HOA fees, whichever is lower).Definitely will want to look into that.

However that does depend on the CLTV.

In the appraisal report I noticed that the appraiser does adjustment in the comparable price depending on the sale date.

@Taha Tekreetiif it "could work" I think depends on your financial situation and your goals. 

The right investment depends on goals.