to do the cash out refi, for conventional loans like Fannie?

Between appreciation, loan buy down, and cash flow, you may exceed that $3,500 in cash flow. 

The short plat costs will be paid out of cash flows.

I'm not sure if you are familiar with DSCR loans, esentially, we are taking the cash flow of the property, plus your investor expeirence and giving out 30 year fixed rate mortgages. 

I flew to SJ a month ago and spoke to the tenant who promised payment but has ghosted me ever since. 

Purchase price: $1,280,000 Cash invested: $400,000 we were presented with the deal by a flipper needing to exit the deal. it was only rentable for $4500/mo as is, so we created a second unit. now it brings in $7200/mo What made you interested in investing in this type of deal?

From there it's your regular ol' cash on cash return calculations!

Even if they can afford to pay it outside of their 0% down payment. 

Whenever I come across these type situations and if I still want to do the deal I have the borrower sell the property to me for the loan amount and allow him to buyback the property if all payments are made and the “loan” is paid off.  

Hi Bob, I'm not looking for immediate cash.