I then call these folks to discuss the program and conduct an initial qualification. 

@Colin Savunen -  Well the reason because i am considering cash out refinance is from what i initially read is that I can get 85% of the value of my home just like a heloc. so for example my house is worth 170k i owe 50k so 85% is 144k , i pay off my old mortage and keep remaining $94k in my pocket. 

All,Thank you for your responses to the initial post.

I have been connecting with deal finders and property managers initially, naturally progressing to lenders and contractors next.I have come across a property manager that I like, and this PM also is an agent.

Should I look to align with a commercial broker initially? 

There are parts of the contract that the buyer/seller will have to initial or sign.

similar questions to initial post re furnishing and fixing an LLC owned property.

I am assuming that I can't lease the initial units in August for the fall school term, then walk into a bank in September and say, "Look, we're at 100% occupancy and cash flowing, please convert my short-term debt into a long-term loan, and also I need more money for phase 2."

How did he get there, what motivated him to get started initially, what are some of the biggest successes or mistakes he's had, what would he go back and tell himself if he was starting off as a newbie.

You can go the Hard money route, where you'll probably put less down, and they'll loan you the rehab (on a draw, so you'll still have to front the initial rehab and get reimbursed), and then refinance into a long term mortgage based off of the ARV.