@Johnny Lau because a lot of investors don’t like scheduling meetings to ask the GPs why their numbers are jacked... which is how I get to spend this lovely afternoon extracting info on a golf course community.

I'm getting off the point here, but it's important to the story of mortgage appraisals and lending that is coming up later.The most trusted and reliable method of extracting market values for elements of property value is the Matched Pairs Analysis.

This is where you can extract a premium for having the liquidity that they don't. 

While I'm just starting out myself, I have a number of friends and family that have done this full time to talk with and extract insights and information.

I also have a lot of skin in the game (and other collateral) and would make sure the capital extracted out during the cash-out refi would pay back the principal balance or her HELOC first and foremost… and of course, compensating her with a big hug and a thousand dollar bill.Just trying to think outside the box.Thanks,Andrew

This will make it very difficult to extract all of your initial investment (purchase plus rehab costs). 

The investors can make money in any investment cycle and still know how to extract value when the common investors run for the hills due to limited knowledge of that specific industry.I love retail.

If I had completed the 3 refinances I had in the works, I would have considered doing something similar with my extracted funds until invested in my next RE (ad)venture.

This implies 1) There will need to be market appreciation to be able to extract value via a refi or selling 2) It is cheaper to buy a property with an existing ADU than to add an ADU.

Properties that start cash neutral or a little cash negative quickly become cash positive at the first or second rent increase.  10 years down the road, they are very cash positive (assuming no equity extraction).These are not ordinary times.