Commercial leases also come in different varieties such as gross lease, modified gross, modified net, triple net, true net, etc.

Run your numbers 3-4 times and triple check comps and really go into the buyers.

So if the building has too many renters the time to sell is triple because they just dramatically reduced their buyer pool.  

That's triple the cash flow you're expecting to earn here, so shoot higher!

I'd say do the cash out refi. 1) Interest rates will be going up, and most of us have forgotten have ridiculously low a 3.5% mortgage is. 2) You nearly triple your cash on hand for doing "other things." 3) You know you want to jump into the game, and having cash "sitting" may push you into into action. 4) Hell, worst case you open a BlockFi crypto account and earn 8.5% interest on that $90k :D 

On the flip side, if this home had been a great buy and Joe lived there for 25 years and more than tripled his money, would he have offered the bank a cut of the gains?

In my opinion, 25k is still not enough, as most of the properties are moderately high, good deals (meaning somewhat move in ready, in decent neighborhoods) you're gonna need roughly triple or at the very least double that to invest around here, if you're new like me.

I want to get my cash flow to triple my current take home salary then I can really start to think seriously about transitioning to full time.

I'm using proceeds from the sale to fund acquisition of the Duplex.So, on February 21, I have a triple closing, selling one and buying two.

These days I do triple net leasing and also apartment deals.If you can share some of your war stories that would be fun.