Since title work needs to reflect you own it, the appraiser needs to see that as well, insurance, etc....so expect about a 45 day closing using this type of method...and that's 45 days AFTER you purchase. 

@Amber Mena  I am not an appraiser, so I'm not sure how they'd handle this. 

Up front money has to go somewhere whether it's for an appraisal or to an attorney for an entity review, but and application fee isn't one of them.Right now rates are around 9% interest only and below and points are anywhere from 3-4.Most lenders charge an underwriting fee and there may be a processing fee in there. 

But the way texas is right now, and has been for the past few years, appraisal boards are not budging on their assessments.

Property must appraised at or above purchase price.

I am struggling with the timeline of getting a loan for a flip, offering/negotiating, estimating costs, appraisal and developing your scope of work. 

I currently have 3 properties: 2 rentals and 1 primary.Primary appraised at 140k in January and I owe about 93k on it.

Paid 56K / Appraised for 115K...

With this, if the property appraises at the conservative number of $80,000 then I should be able to pull most if not all of my cash back out of the deal with the 80% LTV. ($64,000). 

For what you are looking for, I usually tell clients to be prepared for ~125k all in (roughly 15-20 in rehab) and properties will appraise for ~140.