What are you opinión of this deal: bought home for 410k, fha with 6% seller concession.The home is a live and flip deal. 4bed, 1 bathroom. 1500Sq ft cape, roof is mid life, no foundation issues, no oil tank issue, no furnace issues Renov 48k ( on a personal loan) ( New kitchen, second bathroom, landscaping, fencing, repair existing bathroom, New flooring, paint the inside, replace two window, repair deck, putca couplecof gutters,, update electrical panel, New major appliances)With the current market in my area ARV 560K (iam in upstate ny) Should I keep for 2yrs or refinance and rent this out?

Increasingly, I work outside the banks until it's time to refinance.

Hopefully you have equity in your home and can refinance and use the cash to pay. 

@Thomas J Mele I used Zen business to form my first LLC, however, I did hire an attorney to refine the operating agreement.

Buy-Rehab-Rent-Refinance-Repeat.

If they say refinance, it may be your only choice with them, or as Caleb said pay down the difference.

Properties are in the 165K and 170K area so not looking for a micro-loan or anything strange.What does the refinance process look like inside of an LLC?

My strategy is to use hard money to buy and renovate then refinance to get the down payment back.

Is there a way I can refinance both together to save the closing costs?

I would like to do a cash out refinance.