As a vacation rental owner, I can’t have my guests calling them to iron out issues, and AirBnb takes super long, and then can’t even explain it’s own policies to the owners or the guests.

Scale and iron build up will excellerate wear and tear on anything that water touches including dishwashers, water heaters shower doors etc.  

More looking into duplexes up to four-plexes and the sort, the information I've understood on commercial can be a little less predictableTechnically, a 5 or 6 unit apartment building would be commercial - but ironically many commercial lenders do not want to deal with something less than $1-2M.    

Does anyone else find it ironic that the criticism of undercutting sellers is coming from a HARD MONEY LENDER!!?

Ironically, Braden and Kramer found me on BP asking if I knew of any hard money lenders.

Loan terms on the refi would be conventional 30yr at 5.5%, hard money would be 100% at 3pts on the front end and 1%/month, seller carry still needs to be ironed out, which is one of the reasons I am here looking for advice, but seller did say he would carry the 25% down payment.Im thinking hard money for the purchase, get seller to sell for 75% of asking and carry they additional 25%. 

Definitely something you'll want to iron out with a lawyer

Congrats on a successful flip and the lessons learned that have ironed you and your team to become better investors in the future!

The average lifespan of cast iron drain/sewer pipe is 50 to 65 years. 

But I would not buy it as-is for 230k - you are paying retail or higher for a house that needs work.Also, it has a slab foundation - if the house still has cast iron plumbing, you will be in for some major headaches down the line, or may even need to repipe now before putting in new flooring.