I would speak with them prior to buying anything if it was me.

You need comparable sales BEFORE you spend $175 or the appraisal will come low to your expectations.

Prior to pandemic we used it a lot for ourselves and did AirBNB which was a gold mine for the 90 days that you are allowed to do it in the city.

I STR it for 15-20K a month in the summer, and was offering it for rent for $2100 a month in the winter (lower than any comparable houses), and was getting tire kickers at that price. 

I am looking to purchase this investment duplex property which was built prior to 1940.

Refinancing  immediately prior to a sale - yes that is a cause for some seasoning. 

Neither 1031 Capital Solutions or its representatives, nor DFPG Investments, Inc. provide tax or legal advice, as such advice can only be provided by a qualified tax or legal professional, who all investors should consult prior to making any investment decision.1031 Capital Solutions is a branch office of DFPG Investments, LLC.

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.

It would be great to compare notes - how do you feel about expanding your search radius or even considering new-build opportunities further inland?

If you sold it, what would you do with the money and how does the return compare to what you get now (factoring in the amount of work/stress with each option)?