Exceptions also possible as well, but lenders will typically want you to have some "skin in the game" to do a cash-out refi so quickly

if market value rents are significantly greater than the property expenses and you can then rent the property out to another buyer on a lease option, you just make sure you are putting minimal cash down with the seller, and take a large up front cash deposit/down payment from your future buyer....they have skin in the game, and you can put utility and maintenance responsibility on them. 

On the surface level: a big part of mitigating risk with section 8 really boils down to screening the tenants for section 8 adequately vs renting to just any stranger with a voucher.

Might be time to step outside your skin to try to reframe your opportunities. 

Just doing a quick look at zillow sales vs rents , on the surface it doesn't look too bad for investing. 1% rule is seems very doable. 

Uneven walking surfaces.5. 

On the surface this seems like a great opportunity once i get past the negative stereotypes that come with living in a doublewide “trailer”.

On the other hand, by having a trustworthy contractor with skin in the game that contractor has incentive to make your projects a  priority.

Second, the conventional lender will want you to have skin in the game and will likely have a clause or want to know if there is a junior lender.

Having tough skin is surely a necessary trait to succeed in REI, but a little grace goes a long way to help get through the occasional trough.