For example, suppose this building, being older, needed significant structural work to reinforce floors, repair exterior brick work, replace windows, repair roofs, and all of the interiors needed to be heavily turned (new countertops, sinks, appliances, showers/tubs, toilets, flooring, paint, fixtures, etc) to hit the pro forma numbers.I'm poring over various spreadsheets to analyze a deal (like Michael Blank's SDA, even though this isn't a syndication) and Joe Fairless' free simplified calc sheet, but I've got some nagging questions on when to actually use certain values... hence the above scenario/question. 

If that's case, does anyone have any suggestions to simplify the situation so that we can refi with the low rates?

Hi Blake, you are right, I simplified the example for the purpose of keeping it simple.

I think they really did a great job simplifying the process and removing all the inefficiencies in mortgage industry today...

While I have met people who are too paralyzed to move, I have met more who have done miserably stupid things out of greed, overconfidence, and just plain arrogance.I think the next move you make should be to take careful stock of your financial situation and simplify what looks like a series of very complicated investments in a lot of places.

It simplifies your drive-by inspections!

@Ron Brady cutting out security deposits altogether is definitely one way to go about simplifying things, haha!

I do maintain separate bank accounts for properties primarily to simplify accounting and keep my business separate from personal.

I was loving the simplified faster version of the calculator.  

I want to simplify further; love to hear more insights from someone doing so well in that vein.