Keep in mind, though, that each lender has their own criteria for how much future potential they’ll factor in, so it might come down to some skillful negotiation and presenting detailed projections that don’t feel like puffery.Just be careful not to come off as overly speculative…lenders tendd to shy away from what sounds too good to be true.Anyway, I’m curious.. have you spotted any other investors in Gainesville facing a similar refinance puzzle and what kind of terms were they able to secure? 

ON THE OTHER SIDE, the liability and cost of fencing it in, as I would need to do, is a huge factor... 

It depends on a few factors: First, the fires.

One of the biggest factors in successful flips is building a strong team: contractors, agents, lenders, and property managers. 

When under contract at 300k with the expectation that codes would be the determining factor on what can be done on with the property, as it relates to new construction.

If you can shorten the window on the cash out refinance to the next purchase/refinance the rate is not really a factor.

When under contract at 300k with the expectation that codes would be the determining factor on what can be done on with the property, as it relates to new construction.

Determine the most likely sales price of the build (factor in the cost of the land also) and include all selling costs to arrive at your net profit and ROI. 

I just wanted to make sure there wasn’t a limiting factor of showings or interest.

I would consider the tenant's past, as well as the condition of the unit, my local market, and other factors.