Please feel free to check out my profile for more details on the investment, but we were able to spend 1 year slowly renovating the apartments as tenants moved in and out, invested heavily into leasehold improvements (long-term fixed like HVAC, water heaters, exterior paint, property drainage, etc), converted month-to-month tenants to annual leases, and raised rents to market. 

For 20k in rehab you should have a new ac and furnace, hot water heater, updated plumbing, a new sink in the kitchen and bathroom, laminate flooring in the kitchen, new tile work in the bathroom, refinished floors, new ceiling fans, some light exterior work and some misc etc.

Questions:Is it 1" lower at the exterior stem wall, or at the interior? 

that's me lol haha I only changed windows and do exterior painting to that duplex ... .... lol funny if I sell that duplex now compare to 2022 , 2022 sale price is still higher

It comes down to the numbers.The concern with condos is you don't have control over the HOA dues or the exterior maintenance.

Also, inside the house, the water heater is not compliant with code due to the fact that it does not have a drain pan and separate T&P drain lines that drain to the exterior.

-Your property suffers from "exterior obsolescence." 

It is well suited to remain a fairly dmage free structure during any hurricane which is a huge cost consideration on island.The mansion has no exterior clapboard wood and requires much less maintenance than other woodedn victorian homes or modern beach houses in that respect.

My question is, do you do exterior rehab and try to refinance out as quickly as possible or should I wait until September when the tenant is out, rehab the property, and then refinance out?

My home is a magnet for people who want to party, as it's 3500 sq ft and has a history of parties from the previous owner's management experience.I'm looking for some input and advice on what my best option might be.