@Alan GrobmeierThanks Alan, I want to know will there be any legal restrictions in selling after refinancing?

The house was unable to be refinanced because of the reason Sam Shueh said above.

We just went through that ourselves and refinanced out of RI Housing so we can then look towards our next property, both from an occupancy perspective and having the option to use an FHA loan in the future.

I refinanced it and pulled out money to buy another house.

I should have just kicked out both Tenants at that point - because the next 7 months became a living Hell because of the Downstairs tenants...We ended up in a lawsuit and they left late and their Dog bite my Fiance - CRAZY **** that I did not want to deal with, but had to deal with, because I was their landlord (Learned my lesson quick) So moving forward - I saved up some more money, and I refinanced my Duplex, I got the PMI off my loan, and I changed it to a Conventional loan, so if I wnated to do an FHA again, I would have the option.

I know a lot of people rely on cash out refinancing larger multifamily as a strategy but in trying to get financing for the deal and rehab, I came across a lot of issues.Some questions to get us started (feel free to add your own questions and advice, I would love this thread to be a main place people can go for info on these types of properties):What issues are there for getting cash out of a commercial loan with rehab costs (whether separate or rolled in)?

There was this client who was refinancing his home and we kept reminding him to not buy a Bentley because it will affect his DTI.

Purchase price: $23,000 Cash invested: $25,500 Purchased, rehabbed and refinanced cashing out $26k to account and adding $585/ month net to income.

@Eric Piccione If you’re talking about buying the property, refinancing into a mortgage and then leasing it out with an option to purchase, there’s nothing wrong with that.

How simple is it to find property and use hard money to finance the investment? What percentage of the mortgage should I have as cash or is a down payment still needed??
Also from that hard money loan, then in turn r...