Let's say Zillow zestimates a property worth $150K. If I were able to buy the property with cash for $100K. Would a lender let me immediately take out a loan of $150Kx75%=$112K without doing any improvement to the property assuming the property's condition on par with the Zillow's comps?
Not sure if you could get a lender to look at zillow. Most will do appraisal and they probably will take into consideration you paid only 100 k.
Your lender will do an appraisal and go off that. I did this three times last year. First rental I paid 130k for appraised for 195k. Second rental I paid 135k, and it appraised for 215k. And third one I paid 132k and it appraised for 150k. I rehabbed one and the others did minor stuff to them. But I got them all for really good deals. But my bank gave me 80% of the appraised value. They didn’t care what I paid for them.