a good deal.? I want to purchase an undervalued single family home in las vegas. It is comped at 570-600 thousand and others in the area are listed in the 650s and up. Its a 3300sq ft 4 bdroom home. they are taking offers for 4 weeks and the listed price is 400k. They said that the best offer after the 4 weeks will get the home. if I offer 425k and get the home, will i be able to cash out refi immediately for 525k plus Closing costs and pull out 100k, then put in on the market for 565k. Would that be a smart move or is it illegal to refi within a year?