He told me that it was recommended to him to structure it with a land contract which involves him borrowing private money and then refinancing.

My home very recently appraised at $250k as I just refinanced.

If the property is refinanced at some point in the future, the HELOC is most likely paid off and a new mortgage replaces the old one.

I recently refinanced to free up my VA loan, so I can get into a property with very little out of pocket.

Is it possible to get a FHA loan on a new investment property, single to fourplex, (which I plan to move into for the first year) if I currently own a home that I just RECENTLY refinanced with a conventional loan in the same city WITHIN 40 miles away? 

Furthermore, refinancing has closing cost and it will increase the mortgage and lower the cash flow on the rental property. 

Financing/refinancing 5 properties as a package/portfolio is going to be a commercial bank and/or local bank type of deal.

Even if you plan on refinancing to pay back the HML, the time it takes to build up that equity in the home would make this so expensive that I can’t see how it’s even an option. 2) The second question involves conventional lending.

I am considering refinancing to complete my BRRRR and have a few basic questions:- Do you need to physically be there for the appraisal?

What are the pros and cons of selling vs cash-out refinancing?