I usually advise against it as it could lower the DSCR too much though.

Hey Jay, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

I'm curious what investing looks like in Arkansas and if there are any local investment Realtors that can shed light on the situation around here.I live at home so my expenses are quite low while I figure this out, which is good. 

The cash out hit can be mitigated by going for a lower LTV, but people doing cash out refis rarely want to do that.

For example they took on (a) floating-rate debt (instead of fixed rate which was more expensive but safer), (b) short-term debt (cheaper but then they ran into refinancing problems) and (c) high levels of debt (to try to juice projected returns rather than conservative levels which aren't as "exciting" to a certain type of investor).

So it was a little different than just having $150 altogether if there had been an absolute emergency I would have had about $1000/month after expenses by the end of the first year that was getting saved towards reserves.

It was an expensive and extensive remodel project but it worked out great because of the AMAZING purchase price!

We were just not looking to buy RE because the rate was lower than current market or the leverage was a little better that's a fools errand . 

Since townhomes and condos can be less expensive they sometimes can cashflow a little better than SFH in year one, but over time the SFH appreciation in value and appreciation in rent growth can turn into better cash flow and more equity in the long run.  

Assignees who come in late and insist on closing with "my title company" sometimes get their way when the wholesaler is weak and inexperienced... but they should also expect to pay for all of the work undertaken, and all expenses incurred, by the first title company.