Also glad you took a bet on yourself!

I doubt anyone has numbers for this.I would bet dollars to donuts that the majority of mom-and-pop investors today got started in the last ten years.

I would bet 90-99% of Vegas landlords have never replaced a main water line.

I bet if you ask the inspector if they guarantee there is a leak if you rip open the wall they won’t say yes.

I think it would be safer to do a HELOC on your primary instead, keep your rate and do 10-20% down on a hard money loan with 100% rehab financing.  

I'm willing to bet you'll command $1200 or so in the spring if you hold.

My bet is your lender required their interest be insured as fee simple in order to close the refinance.

@Kristian KotovBased on what I've read I think your best bet is going to be a private asset based loan.

Or you could go full time, bet on yourself and make 10x that

It is up to you if you want to bet on an appreciation play and take the small losses each month with the ultimate goal of refinancing when rates fall and getting to a point where you can cash flow.