I just don't understand how a cash out refinance works and what the benefits would be for it as opposed to simply purchasing the home and renting it out without doing the reno and refinance part of it.

Guidance is appreciated on where to begin, I am not opposed to looking out of state.

However, most people seem to use Yardi these days, at least if they manage buildings as opposed to something more scattershot. are you looking for how to get started or technical help or just which one works best? 

Or is the opposing attorney simply telling you that they sent it to you?

The problem with that is that I spoke with a bunch of Real Estate Attorneys that assured me they can and do perform the same services (contract negotiations, advising, etc…) and they do it for a fixed hourly rate as opposed to an equity stake.

New construction going for so cheap in this area as opposed to how much new construction goes for New Jersey made me very interested in just purchasing something that is already completely done and hopefully good to go for the next few years.

You're situation could be far different, for me I am looking at higher construction costs than you have (most likely) and deals in the area I can put 20% down on as opposed to using the money for another unit. 

I've watched so many BP videos and not once has filing quarterly come up as opposed to annually..   

@Nicholas Jose I would suggest putting a date on the return on the information as opposed to the feasibility phrase.

They are a great way to scale your business.They are asset-based loans as opposed to borrower based.