If you took out a loan for 60k its now worth 130k you cam do the cash out refinance but 60 k of that will go nack to original lender to pay off the 60k so youll only have 10k then left over in cash after paying back previous lender at 70% ltv on arv.

I have been a member of AAA since 2011 and have taken the CAM class offered there.  

Not sure what the misc. expense of $500/year is ... trash, CAM costs, or exterior maintenance?

@Harris Culley I would look into getting a CAM license if that's the route you want to take with managing properties.

I'd rather tell them to hold the loan until the LTV cam into line, selling it later, that is if the lender was a bank.

So I offered the seller 3k, he didn't say anything, I let the silence do the work, he said 6, I said no way, and went back out to the A/C and he cam down to 5, I went to 4.

@Cam Schumacher thanks for the mention.

All of these costs (and several not mentioned) will be pooled together into the Common Area Maintenance or CAM which will be charged back to each tenant on a prorata basis per rentable square foot (RSF) or some other means of calculating as may be negotiated in the lease. 

Something to consider, do you really want to make a tenant mad over $35 / year if it is not clear in the lease and was not explained before signing.In commercial leases, back flow testing usually falls into a tenant specific responsibility or is treated as a CAM. 

So, while scouring the the latest market news, I cam across this great article that that tells the story of a "Flipping Bandwagon" rolling  over the nation.