- Yes you can do that I've had investors do that before and there are no seasoning time frames for rate and term refinances or for the loan on titleOr you can find a portfolio lender locally to do a cash out refinance usually up to 65-70% LTV on an ARM as portfolio lenders usually do not offer 30 year fixed loans atleast not with out steep premiums to be paid.

Solid area to be looking, and the pricing isn't through the roof much like Austin right now.

The house needs everything: Roof, gutters, siding (asbestos shingles nailed over older cedar shingles), drainage abatement, rehabbed bath, total kitchen, replaced flooring (half), refinished flooring (other half), back steps, total landscape, HVAC (old furnace is missing), insulation (2" in attic; none elsewhere) additional electrical circuits, plumbing includes iron pipes, interior trim and paint.

Demand is through the roof!! 

Owner wants 80k but it needs a lot of work including new roof, all new electrical, some structural repairs and an update to kitchen and two baths.  

Exterior was on great shape, roof looked ok as far as I could tell.

.): $1,500Paint (most rooms need paint): $1,000Roof Shingles: (may or may not need to do; roof missing a few shingles near gutter): $300Dryer Duct (missing a piece that connects from laundry room to outside, quick fix): $100Hot Water Heaters (electric) x 2: $2,000 (which is probably way high, but trying to be conservative).TOTAL ESTIMATED REHAB BUDGET (which is probably sky-high): $9,400ESTIMATED CLOSING COSTS: $5,000 all-inPROJECTED CASH-ON-CASH RETURNS: 14.91%=====================SECTION 8 PROGRAMI really need to educate myself on the Section 8 program. 

Roof leaks, mold, bad plumbing, wood rot, termites, pests, and so many other potential issues.

My excitement is blown out the roof, lately ive been coming across deals left to right, trying to find my niche in creative financing..

Seller expressly warrants that property, improvements, building or structures, the appliances, roof, plumbing, heating and/or ventilation systems are in good and working order.