Thank you for the fast reply.I am leaning towards it might be a bit risky to assume a refinance as an exit strategy if you are in a deal with a lot of equity tied up.Definitely Valdut, its always good to know all options and pick the option which allows for the best execution is speed, pricing, terms, and the right product for the given situation (rehab, acquisition, long term cashflow, construction, or interim, bridge, etc). 

The thing is prices have increased and I don't know how much is left in the tank short term, besides the fact that capital gains are speculative in nature, like everywhere else.

You can also do more projects at once with the same pot of money, e.g. bringing 10% or 20% of the purchase price and getting 100% of the construction covered by a lender. 

Purchase price: $515,000 Cash invested: $128,750 Textbook quadplex buy and hold right outside the DFW metro. 2 story brick building with 4 identical 2 bed 1.5 bath units.

For a long term real estate investor, or one who hopes to be in it long term, a great lender relationship may be VITAL to your survival during hard times and your ability to take advantage of wealth building opportunities during good times.  

Other dscr refis put me at a higher monthly.Appraised Value $700,000.00Sales Price $680,000.00Loan Amount $544,000.00Payment $3,966.67TERMSTue In 480Interest Rate 8.750 % Interest Only Months 120Total Payment (PITI) $4,832.78APR % 9.065 % Margin % Index % Floor RateFloor VerbiageConvertible: NoPREPAY: YES1.

Just because "the seller has dropped the price $20K" doesn't mean that it's automatically a sound deal for an investor.

Purchase price: $90,000 Cash invested: $50,000 Sale price: $289,000 4 family building purchased in distress in Mount Pleasant neighborhood, previously owner occupied for quite some time, the owner could no longer care for it.

When you wait you lose great deals on homes that are priced lower.

You can also look at furnished finders and see if Mid Term would be good and you can be consistent with prices and make sure you know how much it will cost to furnish and make sure the investment is worth it.