With that being said even if we were able to find an attractive refinance opportunity, would it even be worth it when factoring in all the fees associated with converting it?

Same reason why advisor fees inside of an IRA are not tax deductible. 

Evaluate each opportunity carefully and consider factors such as risk, return on investment and long-term financial goals.Good luck!

I mean… Would we even get THAT much more in the end with a realtor, given that (as I understand it), most investors pay all closing costs and we wouldn’t have to pay a realtor fee?

Hi Samuel,Sorry I haven’t gotten back to you in 2 months  One of the important factors to have when having a property out of my state or country is reliable property management.

@Joey Gedgaud we take over a lot of properties where owner complains previous PMC:1) Poor communication, taking many days, sometimes weeks, to get a response.2) Maintenance work being done without notice or approval request.3) Surprises for extra fees, services not covered , etc. because the management contract was "simple & short" instead of thorough.

With late fees, per the contract, they now owe her more than $50,000 to date.

It’s not about the fees.

Good deals are based on market conditions, rents, skills, time, and your capital investments among other factors. 

100% funding is a thing, for example, if the home is $100K to purchase and the renovation is $75K a lender can give you the full $175K however, there are two things you'll need to be aware of 1) there's an option where the closing costs and fees will be much higher, OR 2) you could give your lender a percentage of the equity of the deal (30% - 60%) for a truly zero personal investment deal.