Equity in your home might count, retirement accounts are another source of reserve money, but since you would be penalized for taking an early withdrawal the usable amount is less.That's just my 2c, I am sure others will be able to tell you what worked for them!

Then when it came time to refinance, they said they messed up on the underwriting at the beginning and said my retirement account money doesnt count as reserves anymore, therefore I am not eligible for a refi. 

So what other passive activities are actually eligible to be counted against RE paper losses ?

Also, are you counting the rent you are paying yourself in there too?

I am currently counting down the hours until I have to clock into my Cubicle, AKA "land where dreams go to DIE".

This means what Tom said above is true for AT LEAST 6 months and I'd count on 12.

If you are doing a true full gut, you have the opportunity to "re-layout" each floor plan to maximize the amount of space, therefore possibly increasing your bedroom counts, therefore increasing your cash flow and value of your building.  

There is always the chance that you can find a deal on loopnet, but I would count those chances as very slim, especially if you are in a competitive market.My best advice for you is:1.

In scenario 1 you may be double counting taxes and insurance. 

If you apply a filter and the record count goes really low or to zero, that filter is likely not available for you to use.