If you nail your first 1-3 flips, your trajectory is SIGNIFICANTLY different than someone who stumbles on one or more of their first 1-3, like us.This is certainly not meant to take anything away from those who succeed. 

There’s huge retal income potential if you nail that balance between improvements that wow tenants and improvements that merely look fancy but don’t justify higher rents.I’d also keep an eye on how your high end plan fits the local demand.

They're probably just doing this to preserve the issue for appeal.

I want to preserve it the best I can and I am sure there are people that exit perhaps 5 to 10 years ago and did better with a truly passive investment than with rentals.After turning 40 (I am 43 now) I keep wondering this....

You nailed it!

If they’re so hard pressed to preserve cash, why is the retreat in Puerto Rico?

And last but not least, the banks will fight tooth and nail when a borrower is seeking a full accounting.

Alternatively, consider bridge loans, HELOCs, or post-purchase refinancing to preserve liquidity.

In the few markets where the demand and markets support this, it’s likely that the municipalities will fight you tooth and nail. 

PreREO I believe was run by the same person who owns AHP (American Home Preservation) - which has a lot of chatter on BP that you can search.