I have a property I'm considering seller financing with a wrap mortgage to a buyer, I'm currently refinancing the home and have the option to not escrow the taxes and insurance, which lowers the payment about 700/ month on the 1st position mortgage, BUT would escrow the T&I on the wrap mortgage. has anyone structured it that way what would be the pros and cons to structuring it this way? 

A more viable approach could be a straight 75% cash-out refinance—but only if you’ve invested in a city with strong, sustained population growth.

If you're doing a rate and term refinance, there's typically not a seasoning period but again it's common for lenders to require it be rented first.If you're doing a DSCR cash out refi, it may not need to be rented first but you're probably paying a higher rate.Your best option is to call a loan broker you trust and go through the options based on your current situation.

You’re thinking strategically, and it’s great to see you weighing all your options before making a move.

Quote from @Ben Fernandez: Gotcha...I like your goals utilizing the lease option.

Some will do but they tend to be far and few in between and the terms are not very desirable at all.Another options is to take down the properties with a bridge loan. 

We have full time professional jobs and children so getting into heavy rehab or flipping is not an option.

Specifically flooring and tile options.

There are HELOC and 2nd loan options that might work for this property.

If its home that went through a remodel, typically there is not any sort of warranty and you will still experience some work orders come in.Either way, great option for some investors and currently there are still some deals out there that you can walk into equity with, which is typically why you'd want a non-turnkey property. builder warranties are for 1 year typically..