Granted - these hard money guys don't play around with their rates and fees - but they'll get you more leverage and help you keep the equity requirements lower so that you can build up a strong track record and start taking down deals with your own / immediate family equity. 

Initially my draw to investment real estate was buy and holds to build a legacy for our children (one of our kiddos will need finances covered for him beyond my husband’s and my life.

I did a duplex renovation did fine. very strong urban core market strong appreciation, we see new build activity there, I would stay north of 104. we would build around there and we only do urban core or urban core adjacent in columbus. look at new construction if you can't find inventory you like. plenty of lots all good appreciation in the urban core, strongest rents.

Additionally, I got to network and build relationships with other multi family investors and real estate professionals.

have to look at how much it will cost you to get in . how much will cost you to build . how much it can be sold for 

The dilemma i have is that I can’t decide if it makes more sense to embrace the c class identity this property gives the impression of, or put a lot more into the renovation, get better quality tenants and convert it to the B class property that the building (and the area) should/could be. 90% occupied, the yearly rental income is around 600k with 420k NOI. 

Build the secondary units and legalize them, then refinance with them in place.

The first step to building your REI empire.

What made my investor interested in this deal was being a corner property you are able to build a full 3rd story addition by right which would massively increase the value of the property with similar 3 story properties trading in the low 600k's.

You hardly build any equity in your first year, it makes sense to refi only if the rate is substantially lower or if you can get rid of mortgage insurance.