You will likely need a downpayment of somewhere between 10-25% of total project costs if working with a hard money lender, and you will also likely be responsible for floating the first construction draw, as hard money lenders typically fund construction on a reimbursement basis.If executed correctly, then when you cash-out refinance, the new loan will replace the old loan, and you will receive cash proceeds above and beyond the loan replacement amount.A quick example below,Initial hard money loan: $200kNew cash-out refinance loan: $250k$200k of the new loan would "replace" the initial hard money loan, and you would receive the $50k difference.Best,Michael

Do you have a current tenant with an executed lease? 

@Albert Howard no hard money.

For example if you decide not to execute your option to buy the property after the 2-3 year period you wouldn't want her to terminate your lease to make room for a potential buyer causing you to have to find a new spot and move your customer base.

Does anyone or has anyone executed a BRRRR in Texas?

Its the actual execution thats difficult.

@Ben Howard that is amazing.

Aware that most of the $19.95 national eviction searches are only hitting on cases that were actually legally executed (ie: the minority of cases filed)?

@Saul Howard I am real estate investor in Cincinnati and I am in between projects right now.

Speakers include Dave Madonna, Executive Director of Sangamon County Community Resources (rental assistance, housing counseling and much more).