In the event the Premises are destroyed or rendered wholly uninhabitable by fire, storm, earthquake, or other casualty not caused by the negligence of Tenant, this Agreement shall terminate from such time except for the purpose of enforcing rights that may have then accrued hereunder.

The immediate equity accrued upon renovation of these properties is about $360K.

I've read a handful of the Bigger Pockets books and have accrued enough knowledge and capital over the years to get my hands dirty THIS year.

Upon termination of the tenancy, such security deposit, whether it is property or money held by the landlord as security as hereinafter provided may be applied solely by the landlord (i) to the payment of accrued rent and including the reasonable charges for late payment of rent specified in the rental agreement; (ii) to the payment of the amount of damages which the landlord has suffered by reason of the tenant's noncompliance with § 55-248.16, less reasonable wear and tear; or (iii) to other damages or charges as provided in the rental agreement.

I was leaning more towards renting because there is some construction going on around my neighborhood that should raise properly values over the next few years so this would allow me to continue to own the home, continue to accrue equity, and make a couple hundred bucks extra a month on top of it.

Then again, if there is a chance that the check is going to bounce, it would be prudent of the tenant to send payment early to leave themselves time to resend it and prevent the late fee from being accrued as well.

Yes, my interest rate for my loan is right around 6% and begins to accrue after 6 months of graduating.

For instance, if you hold up the refinance while you refuse to pay the fees, the hard money interest will continue to accrue, which may end up costing more than the fees.  

Depending on the situation, you should have millions available to you before you start, also keep an eye on  timeframes that drag on, govt. red tape, small minded politicians, as accruing interest can slowly kill you and if you're not prepared for lots of hurdles developing land  will take you down if not planned for.      

Again, if you can negotiate it with your lender, some lenders are okay with having all of the interest accrue, and is simply paid in one lump sum when the loan is paid off.