Rental Strategy Advice

[Vernon Bond]

Hello BP Fam,

I am an investor in MD and I have a question about a different strategy that I would like to try. I currently own 3 rental homes in MD but i purchased them with conventional financing. My new strategy would to be purchase a home that needs repairs with cash(lets say for 30K) and invest 30K in repairs (60K total into the property). Then I would rent the property for cashflow and cash out refinance.

 My question is: What terms, rates and seasoning should I expect from a local/private portfolio lender? I am already aware of fannie mae's requirements for a cash out refinance so im looking for other options outside of a major bank. Also, if anyone is aware of a good portfolio lender in Maryland that i can reach out to, then please chime in as well. 

Also, my credit score is 700+ if that helps.