Refinances usually cost about 1% plus however many points the bank charges (usually between 0 and 1, each point is a 1% fee).

Does the price typically depend on the sale price or are you seeing a flat fee approach regardless of deal size?

@Jose Quintanathe hardest part about flipping now is finding the property that you can buy for enough of a discount to make money after all the repairs, commissions and lender fees.

The asking price for the property is $135,000 and it is possible to make purchase price $140k and with VA funding fee rolled into the mortgage, it'll be over $144k.However, I don't want to overpay for the property and submitted an offer of $125k with seller paying all closing costs up to $5k. 

Here is the exact scenario I'm facing right now on some vacant land I'm buying.Purchase price                                                                                                         $65,000Additional cost (closing fees, easement, county fees, pizza party, etc)

You also pay annual fees, attend continued education classes, etc.I would caution you however, that you should instead offer a different approach.

Originally I was going to get my medical insurance under my LLC, but had employees, and I found out if I got health insurance for myself, I have to make it available to all my employees.Each entity has fees to pay aside from taxes.

No matter what a lender tells you, there is no such thing as no closing costs.The question is, who pays the closing costs.Traditionally, on a par rate loan, you will pay lender fees and title fees for a refinance. 

You're out whatever money you've wired him and whatever fees your bank charges you.If you want to play along (google scam baiters or look at 419eaters.com), have him send the check.  

Given carrying costs and transaction fees, along with the amount of capital you would have to tie up, if you do not your anticipated ARV at sale you could be in trouble.