Number never will the only thing that has the power to fight over the markets fluctuation is your mindset and skills and luckily you have the power to refine those and morph ;) 

Refinance or sale after 3 years capital returned plus 12 percent cash on cash return and equity share.What made you interested in investing in this type of deal?

You can combine either strategy with a refinance to get a similar outcome to a BRRRR.

I'd like to leverage this into a mid-size multifamily via cash-out refinance. 

Once the renovation is complete I will either refinance pull money out and put long term agency debt on it or 1031 into a bigger complex.

(Question accidentally posted twice, body of question in other post).

Is it not possible to take a loan on the property in order to buy it, rehab it, and then refinance the loan against the higher value of the property?

I want to buy my first investment property using a heloc on my primary residence.Can I do this, rent the home for a year and then refinance the home, "pay off HELOC" and then rinse and repeat?

The exit strategy is to stabilize the park and ultimately refinance after 5 years and increase value as much as possible.

Here's mine from the last few days.Propane stripper: a large piece of equipment that removes propane from semi-refined crude oil just before it reaches a fluid hydraulic catalytic cracking unit.Chulo: Spanish, a pimp or gangster type of person that is attractive looking.