-Refinance Loan Amount, most places will traditionally refinance between 70% to 80% of the market (ARV), again their are exceptions but I would confirm this as it'll greatly impact the amount of rest of the numbers.

@Randell Summerford, do you mean the property was officially assessed to "Owner Unknown?" 

I simply look at the repairs and renovations to get it up to the same quality as the rest of the neighborhood, the ARV market rent, and purchase price. 

That's better than 99% of the rest of us with our mortgage payments!

“Live 5 years the way no one else will, so you can live the rest of your life the way no one else can.”This is a success story of hard work and determination.

Again, this is a professional that can be recommended to you by the rest of you team - lender, Realtor or Attorney.I wouldn't go too crazy assembling your entire 'team' at this point.

. - Would you buy 4 condos where you give $50k in each and finance the rest? 

Hammond in general has experienced a ton of appreciation over the past 3 years- on par with the rest of the county.

I am trying to understand the New Smyrna market in terms of a short term rental investement.I'd like to find a place in Florida that I can be there during some of the winter months, and use as a short-term rental for the rest of the year.I'm finding all kinds of various ordinances in cities around the U.S., zoning issues, etc.Is there an agent that understands that market?

You will both need to sign an official cancellation of the agreement.