How about getting your property reappraised, refinancing it and pulling out money for renovation expenses.  

10 units in 2 years is not slow that is in fact very fast, congrats on being able to pull it off.

During the height of the mortgage housing crisis, banks really did not have systems in place to deal with short sales and were making it up as they went alone; often pulling the carpet out from under the seller at the last minute.They are a lot of work; the seller has to be willing to cooperate by providing info and follow instructions, the buyer needs to be patient and have cash, and the realtor needs to have experience.I would be happy to take a few questions.Bob

I'm doing my first one with an "owner-builder" so pulling the permit is not an issue (I know how to do all the paperwork stuff).In the future, if I need a GC to pull the permit, I would like to still have the option of firing him from the job if things don't go well.

And can I pull out the original $150k investment (before the 50k in gains)  at some point without any issues? 

Prices kept risingNow I am playing in Detroit, building costs in the last 12 months has increased by 10% a good signCurious do other investors look at this Makes perfect sense to me, Marisa unless builders are getting increasingly pulled to the suburbs and build prices are rising simply to entice them to Detroit proper (not sure that's necessarily a bad thing though either).Curious where you're getting this data.

He is willing to pull some cash out of this house to assist with some of the repairs also (so he has a mortgage to write off or tax reasons).

In all honesty, like you mentioned, they have a lot of clients/investors pulling them a different direction as well.

Then pull my money and move to the next deal.

Sounds like a tricky one to pull of during an FHA appraisal.