If a rental or a flip you need to know what other bathrooms look like in the area as to finishes and quality expected.Example it has an older insert tub.You want to rent out.You find out that as long as the old tub and shower is clean tenants will pay 800.With a new tub and shower they will pay 820 a month.Putting in new say costs 1,500 for example.It will take you a 20 a month 75 months (over 6 years) to recover your money.So your answer depends on what you are doing with the property.Not just for the mold but the fixtures,valves,toilet,and supply lines for the sink and toilet etc.If you get a contractor to fix this they will charge a mint.If you get a mask and take it out and just put cement board up you should be fine.You need to make sure exhaust fan works,is proper size and suction rate for that size of the bathroom,and is properly vented to the outside of the property.Make sure roof is properly vented as that could cause sweating and mold problems.If you look into the attic and see mold on the underlayment of the roof boards then you either have a roof leak or a breathing problem.The roof vents for air going in and out (cycling) could be too small ,in wrong location,or too close together.Hard to say without being there.No legal advice.

It is the breathing rule book under which you operate.

It's nice that they say they pump often and are careful with their system, but that isn't worth much beyond the breathe they say it with.

Heavy breathing.

Tell the builder what's going on and walk away.They will be able to sell the property once it's built or tailor it to the new buyers so they won't be at a loss and you will be able to breathe while starting your new business. 

This states the home has been approved and available to be a rental.And some of these must be applied for every time a tenant moves.So check your state laws.There are Landlord Tenant Laws, Building Codes, and laws that are not laws at all but based on a Judge’s opinion of whether or not a tenant did wrong or not.For instance, normal wear and tear.Judges have various opinions on what they deem normal wear and tear.This is an Industry of thinking skills.This is an industry of holding your temper and implementing your lease agreement no matter what.You need to think like a Judge.You need to think reasonably.You need to be a good listener.You need to be in control.Once you buy a house you need to know how to keep that house and how to keep your tenants long term.You need to know how to be all things in order to keep your tenants happy, yet make them know the rules of landlording and how to be good tenants.I always say that one is only as good as the tools they have.You could be the greatest landlord in the world in mind and action, but if you don’t have the equipment, or the education, or the money to invest in the proper tools to make you successful, then you will never make it in this business.It takes my breath away to read the stuff on here by new investors.And I understand that how can they know what they do not know?

This lets my title agent breathe a little.

*Over 40 evictions filed*Zero damage done to any property*All move-outs within a 30-day periodTake a deep breathe & relax a little.

Originally posted by @Nels Norquist:They also have a bicycle taxI guess the only thing lacking is a breathing tax.

That would give me a lot more breathing room on a month-to-month basis.In order to do a cashout refinance the property would probably need to be purchased for below market value or with a value-add opportunity.