Rates have improved a little so entertaining a cash out refi could be an option as well. 

Vacancy is based on the area norm and the past performance of the property, so not a set amount. 

I have been looking at houses there and I noticed that there is a College there as well.

The houses I would buy are around 100k - 150k and I know the study has its own cost associated with it as well, I just would like to hear the input from the BP community

You're in EAST CL on Coventry for example, well right down the block is SH, two very different worlds 

You just need the right provider to set it up better.

Having one left brain and one right brain host was a recipe that worked well for me since 2011. 

I have a wooden retention wall as attached which is about 30 year old I think from the time when this building was constructed, I have made slope down on right hand side corner last year for landscapers, tenants to go into ditch to cut the grass rather than leave it become mini forest with poison ivy plants as well there.

its not guaranteed until the title commitment is done and in hand.. lenders want that a few weeks in advance so they have time to review it and check that there is nothing on title they dont like or is a deal breaker to funding.. they dont want to do all the work then have one day to review and approve title. these companies work just like a bank  they have set process's and getting title commitment and funding  same day is not one of them. now myself I will without title insurance.. and rely on a trustee's guarantee and my borrower if something does not go right then my borrower has to make it right.. so it takes a very special borrower that has that capacity.. and or have earned my trust.

The building might never be a total loss but you very well could have a liability claim big enough for the insurer to investigate that.