This deal cannot be refinanced without money down and lots of it.My advice, keep looking.

I believe the rental could bring in $1100 max but my mortgage is higher than that...which is where I end up with the problem.Is it worth refinancing to lower rates to being my payment down or should I make some minor repairs and try to dump it.Mike

You will be refinancing the ARV(After Repair Value), so you can add that "missing" 10% back with the equity you create with rehab.

The house is paid off so there is good cash flow.I am not experienced in the ways of loans-- have just had 3 run of the mill fixed rate mortgages and haven't worked with refinancing, improvement loans, etc..

Refinancing after 6 months or certainly a year should be very doable if you are really getting that great of a deal. 

She refinanced in the last year or two.

So I bought a house with No money just 2,500$ for closing, my lender is giving me 100k at 7% interest for a year.Bought the house at 63k putting in 25-30k into the house and once I fix it up I'm thinking of refinancing it with a bank.

Good evening, I am in in the process of refinancing one of my multi family properties (2unit).

We then refinanced the property and it has given us $140k in cash back and continually produces $1,800/month in cash flow.

I hope the deposit can be $10k or less and to use the rest for rehabbing and buffer.I have a good job with a good salary, so, if things go south a bit, I can cover a bit of the payments with my salary.My plan after that would be to attempt once again to get a lender in the US to lend me money on my two properties, one which I don't have any mortgage on, and the other which I would be essentially refinancing, and from there, buy my third.I'm sure after my third, some of the potential investors I'm talking to will be more interested in my business.Is this plan sound?