Purchase price (inc closing): 130,000 75% loan = 97,500Renovation: 25k - update kitchen and add a dormer turning top floor into a proper bedroom (currently being used as one as it is)ARV: 190kPotential rent: 1650 - 1900 (friend has property on the same street that rents on the higher end of this range)Montly cost = 600 (capex, repair, tax, management/tenant placement, insurance, buffer)initial invest 25% down  + closing + construction = 32500 + 4000 + 25000 = 61500 + carrying costs until its rented (2 months)Refinance @ 70% based on 190 = 133,000 Money pulled out = 133,000 - 97,500 = 35,500; So would I essentially be leaving around < 30K (based on 61,500 + carrying costs) in the deal and the future returns are based on that number essentially?

The refi will put cash in your pocket, you’ll be essentially breaking even on rent, you’ll be able to enjoy the appreciation when the time comes and you can always move back in the future if need be.

I figure I could roll that into another income prop and I would essentially be using that $100K as a tax-free loan as it would be $100K less than I would need to finance. 

Purchase price (inc closing): 130,000 75% loan = 97,500Renovation: 25k - update kitchen and add a dormer turning top floor into a proper bedroom (currently being used as one as it is)ARV: 190kPotential rent: 1650 - 1900 (friend has property on the same street that rents on the higher end of this range)Montly cost = 600 (capex, repair, tax, management/tenant placement, insurance, buffer)initial invest 25% down + closing + construction = 32500 + 4000 + 25000 = 61500 + carrying costs until its rented (2 months)Refinance @ 70% based on 190 = 133,000 Money pulled out = 133,000 - 97,500 = 35,500; So would I essentially be leaving around < 30K (based on 61,500 + carrying costs) in the deal and the future returns are based on that number essentially?

@Joe Splitrock Of course, and both are essential for good asset protection, but I think a lot of people don't realize insurance only protects your properties from claims stemming from the properties themselves.

What questions are essential in asking a broker and their brokerage services should I be asking to know if they are a good fit for me?

Say you asset A and asset B that perform essentially they same on the numbers & regional growth characteristics, but they are in different states.

If something did come up the lender could essentially foreclose on the property and take the property over to recoup their investment. 

It's absolutely essential to your success.

We found it on the MLS and we got it essentially for asking price.