I really enjoy turning off my brain from time to time and pulling on some slots. lol

LTV, ability to repay, a good exit plan, and experience are more of a factor than credit scores.Once the project is finihsed, a no seasoning cash out refinance can be done to pull equity out, if your goal is to retain as a rental.

I mean I have, but if I am in trouble with my home, why would I sit down and read three or four pages of the same stuff about how to save my house.I have a GREAT solution that I can GUARANTEE gets a better response that the GURU's.

They still want 20% down (not a bad idea of course) and will pull the purse strings for any monies being loaned for rehabbing.

You can always re-finance to pull cash out later.

Or maybe someone else can come up with another solution to this problem?

The problem with pulling out a home eqity loan on your house to puchase another property in now your stuck with two mortgages.

Makes me want to ask, "should I just hold it to my head and pull the trigger, too?"

I'll just have my agent pull comps when I need them.

There are many different ways in which you can go about this loan- and if you are just looking to 'flip' the house then negotiating a high interest rate against yourself may be a solution as well.