With rates in or below 4%, seems like a great idea until looking at the numbers.Assuming it cost around $3000 to refinance, even getting a new loan at less than 4% it will take 5+ years to make that money back.Based on these numbers, it does not appear to be a good idea to refinance...but figured I should ask the experts and see what other strategies people are using for Midwest investments that are less than $100k.  

I'm no expert.

That may be the most economical way.

Perhaps we've reached peak value, and the gloomy economic forecasts will translate to downward housing sales prices in the future.

If making the 20% down payment leaves you cash strapped, then there is risk that you could lose the home during a bad economic situation. 

In the end we are a hyper capitalist society and the laws of economics will win in a big way.

Economic failure has begun...”

The economic impact will remain and we will be experiencing the fallout

Because I am not an expert in construction but I would like to think after doing a few flips I have a general idea of what to expect, and could spot when work appears to be sub par or not fully completed to the extent it should be.

Overall the gist of the documents you sign seems to be that no, it can only be for losses incurred as part of the COVID economic disaster, and you agreed to allow an audit or inspection of your books to verify compliance.