I just completed a cash out refinance on the property but now the bank tells me that I am not able to put the property into an LLC.

I own 1 house and starting the rental process now with a property management company in El Paso, hoping to buy another home next year and expand the business!

Hi John- they seem to be in a tough spot related to the Synapse Financial bankruptcy- they've essentially suspended operations and are trying to sort through the mess.

You could pull some cash out to do the renovations and then refinance on the ARV once its done in 6 months and take out more cash to buy another investment home or rent that one out and buy a New primary home.If you have any questions on the steps or the process feel free to reach out or send me an email. 

In the STR world - that extra money is for the furnishings of the home.  

can't view the link you posted.

The cash flow is pretty good.

Our goal is to expand the business strongly in residential wholesaling, and grow the fix and flip part of the business.

The ones I manage total to 20 bedrooms.These rooms rent for between $125 to $225 per week depending on room size and amenities in the room (beyond basic amenities may include: Desk, Tv, private entry, tenant controlled AC, additional storage).This month after padsplit takes their 14.25% cut of the revenue I am recieving, from the units I own, $15,230 from 3 homes.

The reason I say this is to lead into the answer from your question.