Fast forward two months, and now the property is rented out, so I decided it was time to refinance.

I am a part time agent and investor located in Leander, TX.

*Renovation Costs – Includes labor, materials, permits, and unexpected repairs*Holding Costs — Utilities, property taxes, and financing costs during the renovation time.

I'll also add that guidelines change over time. just because they don't like it now doesnt mean they wont decide later to be okay with it.  

As for not feeling like it's the right time, I would urge you to focus more on the goals than your feelings. 

The seller is out of state and even visited the project a few times to check on the progress which I think helped him feel good about the whole deal as well. technology made the whole process a lot easier in the interim.

For that and time saved setting that up ourselves, PCS was worth the cost for us. 

I have many times jumped in the dumpster to get large boxes or furniture out to break it down. 

The rehab took 5 months and I did 90% of the work myself, saving $30k but losing a lot of time.

In both cases I settled with the homeowner to avoid aggravation, lost time, and expensive lawyers.