Currently in the middle of new floors, a new bathroom, new kitchen lay-out, new trim—after completing tons of demo.

That higher interest will be a lower cost than the closing costs for the refinance so a net gain (depending on your new loan size). 

With less experienced or just poor planning operators, it isn't uncommon that they spend years distributing all the cash out to the owners, and then the time comes for a multi million dollar refresh to maintain the hotel brand, and no one wants to cough up the money back into the entity.

Knoxville isn't a luxury market. widen the gap and do new construction. find infill plots of land in better locations and have more control. work closely with a builder who Is working with investors. we have flippers who did hundreds of flips then they graduate to new builds and say it's much easier. if you have the balance sheet you'll be fine. budget 20%. new construction commands a 20% premium and is much easier to duplicate Over and over and much less risk. 

Hi @Derek Dickinson with your skills New Jersey has huge potential. 

I'm new to BiggerPockets and I'm a new investor. 

Quote from @Zalman Schurder: Hey guys,I am closing on my first fix and flip in Tamarac Florida.I am renovating the entire home, adding a full bath, new floors, a new kitchen etc.Where can I find ideas for current designs, colors, flooring, paint, and kitchen layout.Any general advice of what to do or steer clear of?

Quote from @Drake Backman: I’m Drake, a new investor in the Lehi, Utah area. 

The new standards are yet to shake out I think and it probably does cause some indigestion for investors and agents both. 

This unit was gutted down to the studs so there is all new electrical, plumbing, windows, sheetrock and finishes.