Draw up a financing agreement that specifies how much money you are putting up, how long you are financing (you don't want your money to be tied up for years!)

I bought the first house with all of my own cash, with the hopes of being able to refinance it to draw out my money.

If you have an off market deal you still need to get a lawyer to draw up the contracts, a title agency to close the property and a conditional certificate of occupancy (depending on the town)5.

Make sure you get an attorney filed mortgage on the property (paid by the borrower) and set up an inspection based draw payment (deposit, exterior, interior, punch list is fairly common).  

A freeway may be ok for young professionals but may be a draw back to the elderly and or families.  

I'm not a lawyer but even for a small job you'll need to have the parties identified, the scope of work, the draw schedule (when and how much you will pay the contractor) and any other conditions that are appropriate.  

Fast forward  a few weeks and I request my first draw for the rehab money. 

I line is a revolving line of credit you can keep drawing upon.

It will "mature" into a 20 year fixed rate mortgage that you can no longer draw on.

No personal guarantee from you is allowed.The cash generated from the refinance is now available to the IRA to make an additional investment.You are not refinancing nor can you draw out any of the capital personally.