Hello BP, while i'm looking through different online offers to get a better pictures of the multifamily investment, i notice in my area there is a lot of 2-2 & 3-2 bedroom bathroom.For now, my plan is to invest in 2-1 unit only to young & old couple (for the sake of argument), what can i do with the extra said bedroom &/or bathroom

In most cases you'll find everything you need here on BP so don't spend any extra money elsewhere.

What does he say the extra amount is specifically for?  

I believe that as you grow and become larger it will be easier to find these types of lenders but I am having difficulty.

Another unit then vacated & within 25 days I had it rehabbed & rented for an extra $250/month plus they now pay all their own utilities.

You can offer the property and maybe extra time and they would be glad to go 50/50 or better if there is a good spread.

I think the tendency for most people on flips is to spend too much money on renos and if you are in an A+ neighborhood, there is much more upswing available to handle the extra costs.  

@Vince Futia  check with your local laws to see if they allow an extra amount for a pet deposit (not allowed here in NJ) and definitely ask for another $25-$50 per month depending upon the number, size and what type of pet it is.  

If I refinance as a consolidated mortgage, I can put them on a 30yr, 5%, 5yr balloon, and create an extra $1750/mo cash flow to reinvest.

@Rich Hupper, here is a thread that discusses IRR - even though the thread title is a misnomer:- https://www.biggerpockets.com/forums/311/topics/25...I don't know that "loss to rent" is any specific extra cost that you haven't already allowed for (but @Will Barnard might respond).