If you're not totally satisfied with your realtor out there though, I can recommend the guy I partnered with.

Can the principal balance be satisfied with income from the property or will a refinance be required?

Just play close to the vest, please use common sense, no one loves your $$ more than you, be smart and always pay attention and ask questions tol you are satisfied if something does not make sense!!!

Once you have stabilized the property and satisfied long-term loan seasoning requirements of the bank, you'll refi to the less expensive long term lender. 

All it means is that you're in a niche market so one of the most important factor of success for you will be to understand your niche and do your best to satisfy their needs.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

As a matter of fact, I recently met a young lady who, shortly after meeting, called me for help with an investment she'd made with someone else after both she and the other person failed to satisfy their contractual agreements.

In any given month (year) a property may be unprofitable, but as long as the overall portfolio is performing I am satisfied.       

I can advise that I'm satisfied with my $300 training. 

If you feel the LTV is below 75%, I suspect an as-is appraisal might satisfy them, but you would probably have to pay for that to get done.