This lets you leverage your capital to do more deals.The refi for most investors is to get the lower rate locked in and get some cash back to invest again.If you run out of cash or have "trapped equity" and little cash left then you have to partner with other investors to do deals.I have seen it work sometimes but generally it is a mess unless you can do multiple deals with one partner instead of partnering with one investor for this project and another one for the next.The problem with partners is down the road they get different reasons for selling or exiting the property early.I don't see the refinance bank loaning up to 100% of current value and letting you pull out the 30% and get it back.What many investors do is take on a property with maintenance and vacancy issues using hard money.Fix the problems and then create a higher value for the property.In commercial the weight is given to the income approach.So if you had 50 unit building.Units rent for 500 a month but are 50% occupied.So currently 150,000 gross income yearly.Value roughly at a 10 cap at 750,000 going in.You get for 600,000 and put 150,000 in repairs fixing problems.Total funds needed is 750,000.HML says they will fund 525,000 and you put down 225,000.You work hard and get occupancy up over 6 months to 90%.270,000 gross rents with NOI around 135,000.New value at a 10 cap for refi is 1,350,000.Refi at 75% LTV would be 1,012,500.You get 262,500 back and then your original 225,000 you put down based on the new value.I hope I am making sense.

I understood the original question as not attempting to pull a fast one on anybody.

Probably needed 25K in rehab but it would have pulled good rents.

And even if I could, what we pull out would barely give us enough to buy another property.So, do I search for private lenders?

The gurus, sit at their computers and just pull up properties and look at them and then do their wholesales.

I try to pull title before I submit a contract to the bank..that way I can find out if there is any issues up front.

I take this list and pull the info about the house.

Due to the nature of the neighborhood, I don't want to be jacking around with internet savvy people.

If my bank does that, my money is going to get pulled from it mighty fast.

Rich, I think you're asking a macro question, when rents are more micro in nature.