@Todd FullerloveAlso remember "50% of a deal is better then no deal "So I recommend connecting to someone that has money in your area, that you trust him, and do a partnership. that is how you can get the money/credibility for refinancing/mentoring.

This way you can build an income history with the property and save some money for a refinancing.

Oh I didn't look closely enough - you're right of course, you should go back in and edit the report to reflect more realistic refinancing at 75%.Unfortunately, the calculator doesn't cover every possible financing situation, but the BRRRR calculator does let you enter loan information for the original purchase as well as details of a new loan for the refinance, so you should be able to edit the report to reflect the initial hard money loan component you mention.I went into the BRRRR calculator and tried to recreate your report but adding an initial HML with 30% down at 9% and with some points and fees, rather than a cash purchase, and it certainly didn't look as good at the end.

We then refinanced the primary, and they paid off and closed the HELOC, which was not expected.  

Since this is my first time refinancing, what other things should I be thinking about?

@David Hanor if you can't hold a brrrr without refinancing I wouldn't risk it in the first place.

Once you have refinanced or paid off the lender, there will be additional document stating the Quit Claim is now null and void. 

If so, then you're going to be subject to most bank's cash-out refinancing protocols. 

My first question.I am thinking about refinancing my house and take out 50% (65,000) of home equity, to purchase a small condo in a very nice location.

Do you guys know of any National Banks offering low interest rates for refinancing a SFH in Nevada?