It merely means you will likely have a difficult time refinancing the property to a traditional lending source.

You'll likely also reduce your cost of living by moving to a stabilized apartment.Depending on the cashflow and debt paydown, you can use this strategy until you've built enough equity to reinvest.On the other hand, getting into a multi-family after refinancing will also help you build substantial equity to rinse and repeat in the coming years.

There is currently not a mortgage on the property, but due to the s-corp ownership, refinancing is not going as easily as I'd hoped.

Also, what is the preferred credit score when refinancing does it matter?

Any other fees such as close out fees or payoff demands are paid out on the back end when your loan is refinanced or paid off.

Did a full gut rehab, rented, and refinanced 🔥 Excited to get another  Love it!

We have many quick rehab deals reappraised and refinanced after the work is complete without much seasoning, usually around 90 days.

Are you saying that because of this unit, the building might not be able to be refinanced?

Refinancing to perm while vacant is almost never an option. 

I have clients though that I fund that have built some incredible portfolios. 2 of them over 250 SFRs that I funded for them and they refinanced and paid me off..