I will do a refi on that building when I decide I need another injection of cash for another round of purchases.  

If your house is of this construction, there is no practical way to inject/blow insulation into the wall cavity and you are left with the choice of either gutting back to the studs on the inside or removing the exterior cladding and applying housewrap and rigid insulation on the outside.If you do go the interior route, be prepared to encounter hand-sawn timber with substantial variance in dimensions - meaning you will need to shim and plane, or strap, to create a plumb wall for hanging sheet rock {putting back lath-n-plaster would be cost prohibitive and, in our case (a rental), non-compliant with current fire code}.Old buildings can be rejuvenated and made much more efficient, just factor in an additional 10-15% in your reno budget to address any discoveries.

I worked for years in manufacturing, (injection molding) specialized to a point.

Many seem to inject different sciences to evolve into some logical process but take care not to mix principals of economics, finance and accounting, which is what I told my students teaching economics, accounting and finance in college years ago.

That cash then becomes the equity injected into the new asset.

Because cash is king, and a wholesaler's income is not generated simply by cash injection or even leverage - it is by facilitation.

Someone much wiser than me taught me never to inject more money into a deal to make it cash flow.

Do you want long-term cash flow or a short injection of a larger amount of cash?

It was ***-busting work trying to get all the units functional again but we never had to inject any cash.I had other deals of a similar magnitude going on as well. 

(subtle humor injected into the post.)