If  the Due on Sale clause was called, there was no room to refinance or sell, the seller would have their credit trashed, the buyer would lose the property and the 2nd lender was going to lose everything.

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

I've had one recent multifamily deal in Florida exit with a 32% IRR and one hotel deal in Atlanta refinance and return 110% of the original invested capital through dividends and the refinance and the hotel continues to make regular 16% distributions.  

You can do an 80% LTV cash out refinance, but it will depend on the state and if the property can debt service at the higher LTV 

Hold for what--to refinance?

Purchase my first rental property around $500k located within 30 minute drive of my home (North of Seattle), complete my first rehab, refinance, and cash flow positively. 

Worse than negative cash flow is buying out of negative cash flow at current rates.Note I put forth certain effort to keep my leverage high   Until the recent rent hikes, it was fairly simple to refinance every few years and keep the leverage without large penalty from rate differential.  

The coaching calls have been adding real value to our business infrastructure to raise capital more effective and refine our processes. 

I was told by Wagner that the builder is trying to refinance the construction loan as the cost of construction has increased. 

When contract is about to reach 5 years, i plan to make some upgrades on the property and ask for re-finance, hopefully pull out some equity and get a fixed rate mortgage.Let me recommend a backup with emergency fund (equivalent to 24 months operating costs).