It's a completely legitimate strategy and one I have contemplated myself.

I contemplated selling a 3 family  house in Newark NJ and use the funds to a different product.

We are contemplating adding a full bathroom to the top level because it is doubtful that renters would choose to descend a flight a stairs to use the bathroom.

I have contemplated the idea of a hard money lender in the beginning which may not be the best way to go right off the bat.

My parents were contemplating buying my grandmothers house after she passed and selling their home, which just so happened to be around the same time we started looking at houses.

So if you contemplate to sell vs refi, consider the tax advanatage (and don't sell). 

Stuff happens.However, I think the *real* issue is that my agent miscommunicated to me on TWO occasions about the repairs.First was this, when I was contemplating the purchase (emphasis mine):"Also, regarding the disclosed repairs for the other building.

I had contemplated cashing out the entire IRA to invest until I heard about the checkbook IRA(and tax consequences/penalties).

I am contemplating being a podcast guest on this subject, but here's the gist of my 'leaving a legacy' story. 

I've had one tenant I was contemplating using a service like these on, but I was ultimately able to collect all of the money owed to me through the court/wage garnishment process.