For a 1-4 unit in a cheaper cash-flowing market a the costs to refinance are not cheap relative to the equity being pulled out in many/most cases. 

As I’m sure you know, Las Vegas is SUPER cheap compared to most of California, Miami, or NYC.

Don't ever hesitate to throw out a question or scenario you have in your head.

If you wait 5 months and rents are $2,000 it would be like throwing away $10,000, plus all of the expenses every month.

Wood Floors not sealed, tile not properly installed and grouted, cheap flat paint that the tenants can't wipe finger prints or food splashes off, countertops not caulked so water gets behind causing water damages, the cabinets were painted over not replaced the list goes on and on.

I am going to be the contrarian on this subject.. 1. the pre license course is valuable as it teach's the vocabulary of real estate and the basic laws of your state.. its dirt cheap and one of the better ways to build your foundation. 2.

That's the throwing you know what against the wall, and hop0e plan. 

Same here, I doubt he did anything to such degree intentionally.If anything, it was an honest mistake like so many of us make.It's a shame tho that the Fed nowadays can throw the book at you and consider almost anything a RICO, tax fraud, wire fraud, etc...

They are not cheap by any means (expect double digit interest rates) but they are available. 

Often times, cheap is expensive!