I have paid $300-$500 for appraisers.

I rate this property as a C/C-.The home is very old (Pre-1900) and the photos suggest a property that may be sound mechanically but certainly not finished well or pleasant inside.

Don't forget they will require an appraisal, check to see if its lender paid. 

Find out what their buying criteria is, and start a cash buyers list and put them on it.You can also have an agent pull up properties recently(3-6 months) sold and paid for with all cash.

At the same time as refinancing, we were getting a pre-approval letter for another property (this ended up falling through but leads to my question. ).  

I own an investment property at Canyon Lake, Texas and it is paid in full.  

If values crash and you're stuck with a property that's worth less than what you paid, forcing you to hold for longer than you had planned, you'll be glad for that fixed rate loan.

Renovations are being completed within the next few weeks, at which time the property goes on the market.Scenario 1 - The property is sold, my note is paid back, and I receive 20% of the net profitScenario 2 - The property is re-financed, my note is paid back, and the property is rented.

Go to REIA meetings and get Private Lender Rehab Money, $10K - $30K, terms 10% interest, paid off in full in 3 - 4 monthsB.

The other costs are your escrow fees/pre paid items, and it is marked that you are getting $5,135 back.