Weirdly, you may actually be able to get better terms and/or more LTV on the refinance if there is debt on the property as lenders have rules for max cash in hand (max proceeds you get at closing) for cash-out refinances.  

The land itself ran us about 3600/ acre, (480,000) and approximately another 20,000 in closing costs.

Account for all costs, including closing fees, holding costs, and repairs.

No one pulled a payoff to confirm the balance or looked at the latest statements before closing? 

A month post closing, the son of the buyer (mother) has written a "legal" request to have us buy him a new refrigerator.  

Step 2- close and start rehab-- would need to pay holding cost during rehab?

If you're using traditional financing on your primary residence, they're going to do another credit check on you just before closing.

Although my business partner has been with them since 2021 and learned how to close deals from their education.

Trying to find that deal is close to 0.

The project took 6-7 months, and while we made $143,585 when we sold the house for $560,000, we could have made close to the same amount in a few weeks with less hassle.The big takeaway?