-you likely won't cash flow at all when you refinance, and you might even be negative. 

What is your actual average cash flow now?

Therefore, I think I'll be placing heavier emphasis on cash flow markets.

(My company has it’s general liability insurance, of course.)So, this is a temporary arrangement, at least for now.He will charge a fee to pull permits and to do periodic inspections to make sure my subcontractors are doing quality work but I will be project managing the entire job and handling all components of the renovation from design, floor plans, estimating, purchasing, hiring and overseeing the subcontractors, etc.The general contractor and I are regrouping next week to discuss what he would like to charge and I just want to get some feedback from you experts before we meet.

A friend/relative that has either cash or equity that would lend it to for 6-8%?

The covered parking area and patios should have adequate drainage to prevent water accumulation and potential damage.Investment ForecastPurchase Price: $849,900Total NOI over 10 years: $308,782.13Year 10 Value: $1,256,336 (based on a conservative 4% appreciation rate)Annualized return: 6.30%ConclusionWhile this property is poised for appreciation, sustaining it over several years for substantial returns would require substantial financial resources due to high debt servicing costs and negative annual Cash on Cash (CoC) returns.

. ~1.1 M in cash).What is the best time to buy the replacement property?

Once I built up enough cash, then I became a buy and hold landlord of single-family homes. 

So, with no foundational knowledge of real property, and no capital, his only alternatives are (1) “bluff” the homeowner into thinking he has the money and intent to close the purchase himself and or convince the homeowner he has an extensive list of cash ready interested buyers (“partners”) with whom he’s done dozens of prior deals or (2) pack up shop, write off the money invested in mentoring to a worthless investment, and decide IF real estate is right for home.  

Cash out refis ok, but may result in slightly lower loan sizing.