You may not be able to pull the full $130K out as most bankers will want you to maintain some equity.  

While the banker is telling me that Fannie Mae will write loans on investment properties as long as there is 25% down (30 year fixed) they do require that it be titled in the individuals' names and not an LLC.  

I had just finished an internship at Coldwell Banker, but didn't get the license.  

I was a prior investment banker, private equity and corporate credit person so I spent a lot of my junior years in finance modeling).

You need to ask your residential banker how they view portfolio loans if they are held on a commercial loan that is either a non-recourse loan (meaning not personally guaranteed) or a recourse loan (personally guaranteed)?

Our team worked like hell for an entire year towards the goal of getting this thing bankable so we could refinance it and take our private money lender out.And one year later we got a bank interested in refinancing it.Just yesterday, our banker called me about the appraisal.

So the auction house rules apply, not the bankers rules.In all the times I done this, never heard a banker mention the condition of the house, cost of rehab, ARV.

They include: Property Management firms, Real Estate Attorney, local Real Estate brokers, retired banker, bird dogs, etc.

Also the rate and fees are not comparable to going to your banker.

My banker even suggested it last week.