@Sarah Kensinger  I think the problem of your area for first time or owner occupant buyers is that out of state buyer can provide better offer terms such as all cash, less contigencies than typical owner occupant doesn't look to have as good an offer.

@Kylie GersteinAssisted living is a huge cash cow from what I understand - meaning I would think that market segment would be very interested in your property - especially as a rental. 

For example if a borrower is using cash from a cash out refinance, the borrower would have to provide the letter of explanation along with the closing statement to show that the cash out refinance happened. 

(Other financing arrangements might be possible.)You can only obtain one home equity loan per year, even if you have fully paid off the prior home equity loan.Regulation of LendersTexas restricts who may lawfully issue a home equity loan.An unlicensed person is not permitted to make a home equity loan unless that individual is either related with the borrower to the second degree, or is the seller and is providing financing for the property.A home equity loan must be secured only by the home itself, and the lender may not attach the loan to any additional assets as collateral.

Are you cash flowing the property?

Cameron,One of the faster ways to become cash fluid and have enough to buy a few REI is to get your real estate license. 

so, whatever the comps that you need to target are - you go for thosein terms of getting desired rents, certainly finishes will come into play a little bitand then of course you want a safe, high quality rentalone thing to note that is not often pointed out is that, with a BRRRR, the higher you boost the ARV, the higher your mortgage payment is going to be and the lower your cash flowso a few things to consider herehope this helps

Most likely when you apply for HELOC, your lender will pay for all costs, and you will not incur any out of pocket costs.If you want to do a "Cash-Out Refinancing", I think this is when you have to really plan things.

Giving me the opportunity to better provide for my family and give back to my local community!

@Mario MoralesCash-on-cash return measures the amount of cash flow relative to the amount of cash invested in a property investment and is calculated on a pre-tax basis.In theory if your rental income increases by X amount annually due to the rehab while holding your expenses constant so it directly increases your bottom line (cash flow), you can calculate the CoC return by inputting X/$45k (the cost).