I found this deal through a relative, we negotiated without an agent through a period of x months.

If you wanted to pull funds out of this property next year, then I wouldn't recommend it because these loans have prepayment penalty periods.

You need a great agent to sell the place for you and not allow the listing to sit for long periods of time. 

It needs some light updates, but there is a ton of equity I want to capture through a cash out refinance.

The financing contingency period is up tomorrow and it looks like they are going to back out, so I guess we will put the property back on the market as a cash-only purchase and see what happens. 

Any update on the project?

I'd make sure your comps are very similar in layout and condition, similar updates, etc.

Why aren't you on the phone to them every single day getting updates as to what is being done each day and what the timeline is for the remaining issues?

I had to submit receipts for every dime (they won’t accept invoices created by me for time time) and it’s been two week and still haven’t heard back or received an update.

We can assist in building the scope of work and even visit the property on occasions to get updated pictures/video and confirmation that some work is completed before the next draw, but we can't tie up our operational resources to projects that take more than a couple of weeks.