If you see me around, you'll find me wearing old sweat pants, an old t shirt, driving an old 1998 Dodge Caravan with a loud exhaust...That's how I roll :) I clearly don't fit in the neighborhood.

I would like to thank everyone for the comments concerning my first question.Question 2: From reading some of the posts it seems that it is pretty unlikely to obtain financing in which cost of repairs are rolled into the deal.

(These docs are more of a summary of the financials, there is nothing here to really back up any of the numbers provided.)Would I need to send a letter of intent before I get to see actual numbers, rent rolls, bank statements, expense receipts, more info on the actual homes?

At 3 in the morning I jumped out of bed, pen in hand and started writing - the system came to me as clear as could be..... the answer was CONTROL AND ROLL!

I have a much larger commercial line of credit currently in process and all I had to send was a personal balance sheet (which I maintain each month), latest tax return, property P&Ls (which took me five minutes to run from Xero), and a rent roll from the property manager.  

The fiscal cliff will turn into a rolling slope.

And if you want to watch them roll their eyes, and never talk to you again, ask them if they'll wait until when and if you sell your rehab, to get paid.

I bought the whole roll.

We want to take the proceeds from those sales, which will be between 85-115K and roll the funds into 2-3 properties.  

Or if it's better to BRRRR or FlipHe would either help with rehab or simply lend money at interest.SFR 3 bed/1baPurchase detailsPurchase: 47k cashClosing costs: 2kRehab: 15kI fund 22k cash, he funds 42k HML 12% interest only.Rehab time is 2-3 months in our spare time and around $1000 in holding costs (taxes, electricity, water, etc.)Rent post rehabRent income: 1000 a monthFixed expenses: 612.50. 8% Vacancy, 8% capex, 7% repairs, W/S/G, 137.50 Taxes, and 10% property managementGross income: $387.50 a monthOption #1 Cash out refinanceThis is where I am confusing myself.ARV: 95kNew mortgage of 75% LTV with $2k closing costs rolled in: 75,250Does this mean if I cash-out refinance I would get 23.75k cash, and have a new loan of 75k?