Forums like this are great, and a lot of the podcasts and things out there will be helpful but will only provide surface level information. 

I would strongly advise that clean/degrease and sand the surface first.

The deals are still out there and they surface occasionally, but you need to be able to discern the deals from the non-deals and have the ability to move on them very quickly. 

At surface level it doesn't look like a bad plan to refi into a conventional, but if you consider all the factors, I'd stay with commercial lending.

When you actually get down to the wood, you can take off as much or as little of the surface as needed to smooth it out.Good luck - it's going to be some work either way!

Everyone here who is encouraging newbies that are asking extremely surface level questions are hurting them more than they are helping. 

Similar to Michael's comment, surface level this makes sense, but I would argue it is very over simplified.Good operators (operators in my mind are NOT asset managers, but property managers) will be able to efficiently manage a small property or a large.  

That's when the surface can become thin, icy, and slick. 

@Whitney Nash can help address any Q&A but it seems on the surface like a doable fact pattern.

Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:Follow our "Deep Dive" series we're doing about Metro Detroit cities and City of Detroit Neighborhoods: https://www.biggerpockets.com/...How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!