For a commercial/portfolio loan, you can typically refi them immediately after you stabilize the property. i.e.

You mentioned you dont want to go to arbitration or court....almost no one does as the cost of doing so far outweighs what anyone typically has to gain in suing for specific performance.

Typically, I set up draws of 50%, 25% and 25% at completion.

typically places with great historical appreciation have higher entry cost and lower cash flow.  

They typically only remain bad if you allow them to remain bad.I don't recommend software until you have at least 20 units and you can identify ways software can help you.

Lastly, keep in mind the % of the value, you can get as a cash-out, and if there is a seasoning period with the lender(s), you are looking to work with.  70 - 75% is typical.  

Mortgage guidelines like seasoning periods and how much cash you can take out are not typically governed by state laws, although Texas has some rules on cash out refinances. 

We typically just mail to the owner's home address as there is a higher likelihood that they open that mail in a timely basis.

@Marco Padilla I'm not sure how things are in PA, in Florida the sellers (sometimes banks won't) typically pay the title companies fee so they have the right to choose who they use because they are the one paying. if I understand this correctly the first title company was in PA??.. 

And they typically need board approval to even get 20.