Any attempt to make a mechanical procedure that is one-size-fits-all would be an exercise in futility.

Of course my other option would be to simply use the equity in my first house to buy my third as conventional but I want to exercise the refinance option from above first if I can.

I enjoy taking potential deals and sizing them up as an exercise, I think it's a good way to practice analysis skills and sharpen your eye.

In addition to real estate, I spend my (limited) free time traveling, photo/videography, with my dog(Whiskey), reading/learning new things, play soccer weekly, exercising, and now apparently house/yard work with my new home. 

Have you exercised those options personally?

All the tut-tutting is not a useless exercise, but this forum is about the free exchange of information.

One unit is rented at $900/mo but that's below market and they will be moving out at the end of June supposedly.I would love some feedback on how this looks at first glance, what costs I may be over looking and then if this is something I should jump on OR if this is just a nice exercise for when a better deal comes along. 

I look at reinstatement as more of a risk assessment exercise. 

Run this by your attorney, but you might be able to add a clause to your lease with the prospective tenants to exercise a right of rescission in the event the closing doesn't take place.

You want to find out what is typical for the area and exceed that expectation if it's a cheap item to change.Maybe refacing the pool and adding a waterfall and updating the common area.Redoing or adding an exercise room.Making a small playground area or adding a basketball hoop or tennis court.It depends on the area but the little things will go a long way.Are rents per unit going up,declining,or staying flat in the area??