I made the offer immediately.)I am in the inspection objection period right now and got the inspection & sewer scope reports back last night. 

However, being that I am new, I was looking to these frameworks/guidelines as principles for every market with the understanding they may not hold true everywhere.Great to see you are PHX area, I travel there periodically and was raised in the area so I have a general sense of what the locales are like. 

You should be using that calculator to analyze your deals.If your objective is to recover all your cash to use for the next deal then you need to change your method of calculating/analyzing these deals.  

For the benefit of BP users, the key is finding an experienced broker of real estate securities that can advise you on different options after learning your financial objectives. 

You may want to consider that the interest rates are continuing to creep up, and in 6 months they may be higher than they are now as a result you may want to hold out a bit longer on the refi. make sure that the deal at whatever rate you choose meets your financial objectives just incase you cant refi for whatever reason at the time that you initially projected.   

I hope to be able to strike that same balance with my children that they hear the principles I'm teaching them but feel the freedom to choose their own path with feeling judgment or criticism from me whatsoever.

That said, our principles around debt-avoidance are not going away, but we would make sure before we take on more debt that we have enough savings in a reserve to cover the rental property expenses (on all investments) for at least a year if we had to for some reason.  

What is your objective for this property?  

These can be summarised as follows:What are the objectives of the joint venture?

The gap between the ARV and buy price is very low, a key principle I follow is if that gap is $120k so that there’s more profits for you as the wholesaler and for the rehabber.