Only you can decide what kind of CoC is good, but I would recommend to have a combo approach for both CoC and cash flow.

This kind of activity becomes habitual very quickly.

Kyle Lewis thank you so much and to be honest I’m still heavily considering doing the cash out REFI for that very reason, but I’m kind of stuck in between a rock and a hard place seeing how both could potentially be the right decision.

One question: how confident are you in getting that kind of rent?

For other hacks there are all kinds of little things you can do.

You'd want the interest rate on the 2nd loan (Wrap Loan) to be higher than the interest you are paying the seller to ensure you are making some interest income via the spread of some kind.You can also ask for some kind of downpayment.   

Having a kid and paying that kind of rent would be extremely hard otherwise.I don't think you should go with your gut on this one and do background checks to make sure they can pay what they say they can pay.Choose what is best for you at the end of the day.

Getting it done from an engineering stand point is one thing, but making sure that the deal justifies that kind of rehab would be another.

I used to see that kind of thing a lot, but it seems to be rarer and rarer these days.

Is it your experience that most commercial tenants expect some kind of TIA?