Hey BPso im a canadian resident and i own a property in SWFL in cape coral worth about 200k, it is fully paid off so no liens or mortgage or anything.Im looking to refinance it to pull out my cash and move to another project and just rent this out, I called the bank of america and they told me they could give me 50k or something line of credit with 19% interest secure with my house but thats obviously not what i want at all.

Bottom line, the legal way for myself, a CA licensee, to Wholesale is to self-represent as a Wholesale Buyer and provide disclosure of my license.  

The reason I ask this question is because of THIS "requirement""The Zoning Board will make the final decision....Residents in the neighborhood will be notified of the public hearing and will also have a say" Something along these lines.

The seller bottom line is 400k. 425k.The NOI on this property I calculated it to be about 25k after factoring all expenses (like taxes - 9250, insurance - 2200, water - 2000, a 5 percent vacancy factor and a 6 percent maintenance factor.

Plus you can’t pull out 100% of your equity on a refi or line of credit from the existing property.

@Ian McKay Hmmm, I'm sure there is always an exception here but a bank's wholesale line of credit (who they sell the loan to) is predetermined via contract before you are even a customer. 

Is it advisable to refi with cash out or line if credit to buy another house?

Definitely makes sense, its a higher risk form of funding forsure, but seems like a good option for someone who doesnt want to rely on their own credit and does have an exit strat Your credit is on the line with hard money loans just like other loans. 

Do you already have a lender lined up that will give you 0% down financing?  

Can you please take a second and just give me a line or two on issues you face when working with contractors?