You have a few options for cash-out refinance and from the information you provided it should work.

If you are the broker, check with your E&O insurance provider to see if they will cover you for this type of transaction. 

Let me know if I can provide you with a great referral!

Feel free to reach out, I can provide references from my past clients.  

But doing $700/month provides a 30-35% annual return on investment (down payment) even with some minor repairs.  

I would connect with a local realtor . the mls would provide all of this information 

Hi Vishal- It is quite difficult to source lenders who will provide a loan amount under $100k.

Here’s my FavoriteThat Don Konipol, @Chris Seveney, and @Jay Hinrichs don’t know what they’re talking about but the paid actor with no experience hired as the front man guru by the real estate “education” marketer operating out of Las Vegas charging $40,000 for the “platinum” level mentorship is providing not only correct information but all the education anyone needs to successfully quit their job and earn financial freedom by brokering mortgage notes. 

Hey @Aasin Pritchard - I'll provide the same advice that was given to me when I started a couple of years ago. 

Normally, once I get it rented I have a cash flowing property that has provided 30% - 100% equity.To your point, I am seeing that some new construction is on sale right now and I am starting to consider them because of the lack of maintenance needed.