@D'Andre ByersHere’s some marriage/real estate advice.Learn to cook with the ingredients your wife gives you.Maybe she refuses to live in a fixer upper or duplex.

The economy is much more robust and there are plenty of areas to target specifically for student housing if that is a major ingredient in your investing model.

Skills and knowledge you simply can't have as a newbie are one ingredient, endurance and the willingsness and talent to deal with the weirdest people is another one. 

The key ingredient is work.

Get paid up front or don't do it2 Learn about silo architecture/Latent Semantic indexing/keyword researchWithout the above ingredients you will be out of business.No realtors get this stuff so ask SEO people.

Legal and regulated shops promote the very specific ingredients in their products with much more oversight than users can get in "illegal" states. 

Beyond all of that simplistic stuff, the main ingredient that a bank will look at when refinancing out of a deal like this is simple: equity.If you are going to be refinancing this Note into a conventional mortgage product (30/30 terms) then you will need 20% equity in the property in order for them to make a refinance work, as conventional lenders will lend at a maximum LTV of 80% most of the time.However, if you were getting the new financing from a commercial/portfolio lender, the terms are different.

@Christopher Coleman ,I do have a friend who talked about how legalization is going to bring a wave of industrial hemp growth for industrial and consumer products (for those who don't know, this does not have the active ingredients of MJ/MM, and is not for smoking..)

Active ingredients: 3-phenoxylbenzyl, 2-dimethyl.You can buy online at doyourownpestcontrol.com@Matt Kowske

http://www.wwenvironmental.com/bug_juice_factsheet.php  -they all contain the same active ingredient "Deltamethrin"  http://npic.orst.edu/factsheets/DeltaGen.htmlHighly recommended