Cash Out Refinancing Requirements

[Aaron Butler]

I just learned from my mortgage broker that I need a "settlement statement" in order to qualify for a cash out refinance on a property I am considering purchasing & rehabbing. In this settlement, I was told I need to document the amount of rehab money I put into the property in order to qualify for the delayed financing. In order to do this, I need to show proof on invoices, which would be hard to do because I intend to do a portion of the rehab myself instead of using a GC for everything. 

Any quick tips/experiences with this would be very helpful. Thanks!