Unfortunately, the settlement wasn't the only problem with property (voids beneath slab, issues with plumbing, "interesting" repair techniques, and a whole of lot of other things that added up to a "no" for me at the price and my current experience level). 

I hope you got a good deal on the house, because its now not as good.if you want to avoid eviction, consider cash for keys or a myriad of other similar techniques to try to get the tenant to leave

That is a really great book and I find the technique he describes very helpful.However I feel like there are a few items where it's going to be hard to estimate their cost by myself, even with the described technique.

Here is the situation: When I originally hired him I inform him that I want to enlarge the room, to make it a 3 beds home.

Just wanted to get some ideas from people; so utilizing the "other people's money" technique I applied for a 30k loan and was approved at 8.99 apr.

(Click on the images to enlarge)I tried not to take you through the Journal Entry Process because I know how hard it can be to do Journal Entries, and so I tried taking you through the write checks and create a new invoice scenario, but it didn't deal with the old invoice or the payment received that bounced. 

This experience will give you all the technical skills and underwriting techniques that will be invaluable in your goal endeavor.

Bottom Line Up Front (BLUF): if I use a personal friend to loan me money to buy my first property, can I still use the “cash out” REFI technique with a bank in my BRRRR strategy?

They're not the greatest leads for wholesaling, but if you learn some of the other investment techniques (lease options, subject to etc.) you can do very well.

This is common - and there are several groups in B'ham that do it so it, so it is a tried and proven technique - however it's not realistic to expect to find $60k houses that you can buy for $900 and then sell it for $25k without rehabbing it.