And when you do a cash out refinance right before a sale (conventional wisdom says within 12 months or so) you are taking part of the profit out.The answer is to adjust your model just a little bit. 

Others have answered this question well - I will add don't believe a lender when they say "no one will approve you for this".

I would say 75% would be fair but maybe even 80% depending on the answers above

They will always go off the lower number, and you will need to bring a down payment and closing costs (the standard title and insurance fees for escrow, as well as document and origination fees).

To answer your other questions, Premier Home and Finance. 

What questions am I not answering?

You can email me direct, I try to answer all the emails I get personally.

You'll find answers to pretty much any question you can think of here, so don't be shy in asking.   

I’m hoping to use real estate (depreciation) to help me offset my large tax bill (in case it makes a difference to answer the question as far as the LLC). 

@Jhim Handrex there is a meetup coming up on the March 30th, 12- 2, hosted by @Tyler Jahnke at the Original Pattern Brewing.