He then proceed go down $50k on their original offering to me because of the scope, amount of money, and my (apparently) my newfound lack of “experience”.

I've had one recent multifamily deal in Florida exit with a 32% IRR and one hotel deal in Atlanta refinance and return 110% of the original invested capital through dividends and the refinance and the hotel continues to make regular 16% distributions.  

New Jersey is one of the least landlord friendly states in the country - FACT.Liberal policies are not friendly towards landlords- FACTNew Jersey is a liberal blue state - FACTI was nice in my original post.

After I fill the last vacancy, the building will generate as much cash flow in one month as its predecessor would have generated in a year.There are so many other stories whose origins are with that same knock on the door, but this one's already long enough.

The original six month tenant I had extended the lease 9 times and stayed a total of 5 years, paying me about $15k over market rent annually.  

Also would charge points at origination and bump the rate up a point or twoReason being my guess is this borrower can it get conventional financing so they are a higher risk.

Assuming your property is in Utah (like your profile indicates), here's the state law from a basic internet search:In Utah, a tenant who abandons a rental property without notice is liable for the lesser of the following: The rent remaining on the leaseThe rent plus the difference between the fair rental value and the agreed-upon rentThe cost to restore the property to its original conditionThe landlord can also remove the tenant's belongings and sell them if the tenant doesn't claim them within a reasonable time.

(still took me a few months to shake the bad feelings, though).As to the original question, "yes".

I'm based in Tampa and am happy to connect.I also have family in Chatanoogo and originally from AL, so I can help when it comes to those markets.

If you used a loan to rehab your property and find yourself in a difficult position, doing a straight refi (just paying off the old mortgage) will be easier than trying to pay off the original loan and take additional cash out.