That's going to be a perfect fit with your biz model of rehabs.

@Nathan Weaver also look up/google Mitch Stephen as this is his business model too.

It shouldn't be too difficult for you to get up to 4 properties, after that you'll have to go to smaller banks, private lenders, or... if you can show the bigger banks that you know what you're doing, spreadsheets that show the numbers, cashflow, and business model of your real estate business, they should keep lending as long as you're cashflowing and have a relationship there.

But it can be doable.The obstacles I think you're going to have to overcome:1) Your model relies on being able to do cash out refi's on your buy and hold deals.

I follow the model of 2-5-7 Cash Flow For Life very closely for all my investments.

My business model is a little different from yours but I use Excel to keep track of ALL of my information.  

We spoke with an accountant and, as I imagined, he explained that my business model of buying foreclosures to buy/hold/sell in a trending market was ideal for father to get tax breaks and for consistent cashflow.

This is similar to the Condotel model that was popular 10 years ago.    

Then, the return on that investment tells me how fast (or painfully slow) I get my investment back...and actually start to make money.I'm only interested in the cash on cash return, or cash flow, since both of those profit gauges tell me how much actual money I am making...now.This makes more cents (dollars) to me since my business model requires that I get all my cash back before the end of the year...most of the time back within a few months.

I follow the net worth model in my REI and you'll find it in that book.