It's already tough enough over there, then throw in section 8....Sometimes the juice isn't worth the squeeze.

How are you going to refinance before the grace period is up.In the past, when I read people on BP or hear stories of people using credit cards for real estate and then share their story of how they defaulted or went bankrupt, my response is usually not very polite and it is somewhere along the lines of "oh really, would have never expected that to happen", and it goes on the list between rubbing a polar bears belly and getting mauled and sending $1M to my nigerian cousin in order to collect my inheritance and not getting anything back.

Don't move away from the grill and flip the patty every 90 seconds"lolMy fire in the belly is always burning mate.I can take the hit's and happily turn the other cheek and say "Do this side now".As biz owners we get paid the big $$$ to take the hits, so it comes with the job.Just happy to share some behind the scenes mumbo jumbo that we put up with.I got Dingo Deals falling out of gum trees hahaHappy Saturday Margarita Day (Was 2 days ago but who's counting hehe)

The only limitations are your creative juices and the law. 

Flipping is a self-employed job with high risk and high transaction costs.By the time taxes and agents are done with you, the juice is rarely worth the squeeze.   

Quote from @Derek Bell: I have a dilemma.

and your PM will upcharge or charge you for every little thing, that is their business model.If you keep it, you can offset these losses and also try to consider cost segregation to juice it out.Else 1031 into another one, Pocono prices are stagnant for now, you should be able to get almost same price.

Balloon" framing (1920's I believe).Radon.Plaster and lathe instead of sheet rock (pre 1950's) or plaster and wire mesh variations (50's) more solid than sheetrock but a real b*tch to repair or demo if you're remodeling.You've got Galvy plumbing but also need to look out for other kinds of outdated plumbing like clay sewer lines (pre-1930's, prone to collapsing, bellies, root intrusion), cast iron (1950's, often rusted and/or cracked by now), and PB (polybutylene, gray-colored water pipes, 1980's, prone to rapid degradation and subsequent bursting, mostly gone by now).Buried Oil Tanks-- Do you have those there?

What kind of insurance was necessary, what are the pitfalls, is the juice worth the squeeze, etc.?  

A cash out refinance does not typically have enough juice to get you to the next level.