Then you pay back the cards and original loan because the house now has a higher value and banks will lend on it.Not sure what you were thinking exactly but essentially you are "refinancing" or taking "equity out" of the house as opposed to reselling itHope it helps

The end result is I use $250 to $300 per month cap expense on SFR (I have no condos with HOA fees taking care of exterior).  

Check what the other models' sqft is.Measure the exterior of the home yourself that's all the appraiser does anyway.

Prior to placing the building in service, M pays amounts to repair cement steps, refinish wood floors, patch holes in walls, and paint the interiors and exteriors of the building.

They essentially look the same, but the front is fixed on these, as opposed to having a pull out drawer.  

The acquisition of that 100 unit should be "value add" meaning you can renovate interiors, exteriors and with improved operational efficiencies increase rents, decrease expenses and create a higher NOI.  

Will the interest rates be that much lower on the new loan as opposed to the old loan to justify the closing costs as well as starting over in the amortization schedule?

Hello BP, I work with someone who owns a commercial property (14 unit) in trenton mi, 48183, brownstown township area, and i believe he's renting it way below what he could, theres a lot of value add. dont get me wrong he keeps it nice with turn overs, reapainting, flooring, etc. however there's things like heating and cooling that can be updated, the exterior still has lead paint that is pealing off. what im curious about is that i might want to see if hes interested in selling, he's close to my dad and he owned this property for awhile and self manages it so he might be more motivated tp get rid of it. i guess the question im trying to ask is how do i male sure how much the property worth. i listen to all the podcasts and read a few articles, books, etc and i know that commercial property dont go off comps but how do i really understand how much i could pay for it. also any pointers or tips are very appreciated. im also open to partner with someone to get the hang of things. looking forward to all the feedback!

@Ivan Barratt We are open to SFR properties, but ideally duplexes and up.I'm personally partial to 5+ units for many reasons, but primarily for ADD VALUE play as opposed to 1-4 units having their values determined by "comparable sales". 

Google maps is a great resource for exterior condition.