How to refinance on a property in Wilmington Delaware?

[Anthony Bright]

Recently just did a total rehab and debating on selling it or pulling equity out?

[James Masotti]

@Anthony Bright - The answer provided by @Harjeet Bhatti is only partially correct. There is a delayed financing exemption if you purchased in your personal name and are looking for a Fannie/Freddie lender. If you purchased under an LLC and/or are refinancing with a portfolio lender, than you probably don't need to wait to cash out, although you will more than likely need a tenant in place.

The bigger question here is what are your goals? Flipping will put more money in your pocket faster, but it's only for the short term you need to keep flipping to keep the cash coming in. With flipping you also pay higher taxes since it's considered active income and with rental property you get a much smaller pay day, but you also pay little to no tax on the gains since it's passive and therefore have a number of tax advantages you can take. 

There isn't really a right or wrong answer here...just the answer that makes most sense for you and your situation.