A 75% cash out refi is more likely the higher scenario of the two, however when you do the refi they are paying off the total loan amount on the 12 month flip loan and netting the difference.

@Johnny McKeonI feel that 7.75% on this is pretty high. 

I know this has been spoken about before but I am currently working on building tiny home developments, like multifamilies using tiny homes throughout the country and was wondering if anybody else is doing the same or has interest.

Would love to talk and meetup for coffee if you're local. 

Haven't found much resources on how to structure the deal whether to buy out partner's shares at existing basis (I believe this wouldn't be advantageous as I wouldn't get to mark the asset to market and lose out on depreciation) or open new LLC or S-Corp and buy out both partners (I would end up taking gain tax due to sale but would get new dep. basis).

The house needed more work than they were willing to take on.

This is a unit you live in? 

Final update.Project completed.Rented and Refi, this project as I mentioned is the first out of town investment we've purchased, I have uploaded final pictures I hope you like it.the deal when well, I had to leave more money in the deal that I wanted but over all a great experience, because we started with the BRRRR we fined contractors right away and we felt confidante and that give us the push we needed to purchase more, so now we are proud the report that we have 3 properties (4 doors, 1 duplex 2 houses) that all are rented and cash flowing well, and also one more under contract!!!!

In 2017, I thought I did just "okay" on this deal.  

I am looking to do some financing to build on one of my vacant lands.