Do you have things lined up with a lender that can refinance?

Welcome to BiggerPockets Blake...you will be doing a lot more reading on BP I bet (remember to give your eyes a break every hour or so)!

If the numbers are right that could be a great flip or an easy wholesale.Regarding finding contractors - as others have said referrals are your best bet.

I bet you’re not crazy about this one anymore than your partner would be about managing for free.3)Understand that you should have agreed upon a management fee structure up front and accept you’re partner’s terms as those you would likely have agreed upon anyway.

My options so far are:1- Buy the townhouse subject to existing mortgage, evict the current tenant and re-rent for $1850/mo, refinance in 12+ months to lower the PITI to around $1350/mo.2- Do a lease purchase option with the current owner and a prospective purchaser and keep the down payment as my fee3- Do nothing, move on to the next deal What would you guys do?

I am a licensed agent, have experience in 2-4 unit properties, a RE finance background, but want to learn more detail about how the process, analysis, and due diligence involved in acquiring larger properties.

I would like to refinance to have money for a second property but not sure if the amount is too low to do.

Has anyone found a bank that will allow a cash out refinance under 6 months?

Put your liquid funds to work, get stabilized, then refinance your equity out.

The cash flow is around 350 if you manage it yourself, 17% cash on cash return.If you refinance option B at 75% with a rate of 5%, your cash flow is around 107/mo.