By exposing it so broadly you may find a solution that works for you or you may refer the deal to someone else who has a solution and get paid a finder's fee.All of the states have different regulations as to "finder's fees." 

Refinancing and paying off that FHA loan as well as pulling all my cash back out from the rehab and hopefully more, does this work this way or is there some rules or regulations on this specific kind of thing that would prevent me from doing this?

Having a good contractor (on the team or not) is essential to avoid this.I’m not sure about your State, but you should be clear about general contracting rules and regulations, length of liability, license and permit requirements, etc. before you start flipping OR make sure these responsibilities are included in the list of responsibilities of your contractor.If you’re going to partner with a contractor financially (equity share) and you both create an LLC, I’m not an insurance expert nor lawyer, but I would be clear (signed/notarized documents) about who is doing what within the Partnership Agreement.

I understand what the regulations say, my question was more directed to the enforcement of said regulations.

Most have knowledge of out of state regulations and it'll be easier to find someone with RE knowledge as well. 

All wording of leases shall depend entirely on your state landlord tenant regulations.

They get so focused on buying the deal and never think about the business model of how to run the property as a profitable business along with all the laws and regulations and knowing all the rights afforded to your tenants.

Metro Nashville is tightening regulations on vacation rentals.

Do your state landlord tenant regulations force you to wait 5 days or are you confusing the late fee language with the definition of when rent is late.

Make sure you area aware of the regulations for a basement bedroom.