Expect property inspector to investigate rehab performed was good, alongside general property inspection.Can a BP member please recommend a good inspector along with what I should expect to pay for the service.Thank you

This means that someone who makes $43,000/year would now eligible to buy this room condo, and have access to a vehicle through which to build equity in an asset as an alternative to paying rent. 

The plan was to pay cash, refi out and use that to improve the property. 

If you’re just starting or want to minimize risk, house hacking is a killer move—grab a duplex, live in one unit, rent the other, and let it pay down your mortgage while you scale up.

They have no cash to qualify for a rental or even pay for the move. 

My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

Also, most Umbrella Policies only pay out if your underlying policy pays out, and the underlying policy will do everything they can to find an exclusion or that you were negligent (which you probably were) in the cause of action to get out of paying the claim.

Later I find out from the tenant that the tenant pays their rent early and has already paid January’s rent.

Typically, the initial upfront for the rehab is either cash or a high interest loan (hard money or private). 

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.