Cash Out Refinance Experiences

[Chris Purcell]

I know quite a few people who have bought houses, rehabbed, rented, then refinanced, cashed out and did it again 

Does anybody have positive or negative experiences doing this?

I'm looking to buy houses cheap ($5k-$10) the rehab get rented section 8 and go to the bank

I guess a huge risk would be not hitting your appraisal number and coming out of pocket

Any other advice would be appreciated