When refinancing, do you normally have a tenant in place before the appraisal, or refinance while the property is still vacant?

This is messy, but try to bear with me:I have two Stessa Accounts: one for my personal properties(account "S1") and another for properties held in a partnership (account "S2"). 

Quote from @Joseph Bui: Hi Nishil, I don't have any Indy rental properties but I know a few investors there I can connect you with.

I'll work with an attorney to assist with drafting that.Q2: Yes, I'll talk to my CPA but we'll most likely hold the property for at least 1 year under the LLC given our timeline to design, permit, build and sell the property, meaning I should avoid short-term capital gains.  

Quote from @Tomasz Kaminski: @Chris SeveneyHow do you consider property value if you cannot go inside to evaluate the interior condition?

Property will be held in LLC.

•If insurance costs are reasonable and the property is in a high-demand area, this could be a hidden opportunity because many investors automatically pass on flood-zone properties without digging deeper.

You could find less expensive property in a not so good area.

I'm an investor/agent/property manager in that area and would be very interested in hearing more about the property. 

What vintage property are you looking for?