Most traditional banks require 4 years of restored credit.

However, I have a dilemma, they are now calling for 6-10 inches of snow this Saturday in my area.

If you go with a home equity loan that is the traditional term loan product, and plan on buying more rentals, then pocket the proceeds when you cash out refi the rental and just put the capital back to work as soon as possible. 

Activity seems to pick up as soon as the snow melts.

Me either...I do nothing in California and I do not wholesale properties in the "traditional" bigger-pocket verbage but here is what a quick google search produced for California and the reason MOST title companies will not allow you to be on the HUD without having a broker's license (agent's get paid through brokers).Source:   http://www.leginfo.ca.gov/cgi-bin/displaycode?

You don't have the same protections as you do if you're doing a traditional type sale.I haven't been to auction.com  in a couple of years but they are very good at driving the price up as high as they can.

I've called some traditional banks and it seems that nobody likes this plan.  

I want to purchase a triplex in Oregon that is going to auction.  There is a 6 month redemption period.  Can I refinance out of a hard money loan during this 6 months?

My thinking is that the appraiser could confirm the exact market value of the house so we can know for certain if we are getting a good deal, even though it would not be required since we are not financing through a traditional mortgage.

The biggest draw to me when I started buying non-performing notes is that I had enough savings to buy them cash, since being an immigrant I didn't have any credit so I couldn't borrow and buy rentals the traditional way.