There's ways to negotiate earn outs, build in soft costs etc. to help recoup the majority of your capital without the need to spend the time or expense on a refinance.

Brush-applied Rustoleum thinned with Penetrol on a shellac or oil-based primer will endure abuse beyond all others.

I would check for water stains on the ceilings and leaks around the windows as well as soft spots on the floors.

It would be best while working with the lender prior to getting into contract on the property to do a soft credit pull. 

In new builds we're using mostly 12' which skews that 3.4 number upwards a little bit, but pretty minimal in the grand scheme of things.As an aside I just finished planning a base model home that is coming in at $64 per sq ft including soft costs.

Well besides the hard costs (construction, materials) and soft costs (permitting, architecture, fees, engineering) people often forget holding costs. 

Without knowing the renovation and soft costs, having the original purchase and eventual sale price is worthless data.

It makes you look weak/soft/afraid/responsive to this sort of demand.

Many options only require a soft credit pull, and depending on factors like location, experience, and credit score, lenders can offer leverage of 85-90% of the purchase price plus 100% of the rehab funds.

You really need to brush up on landlord-tenant law and specifically on fair housing law.