I recently refinanced a local property and now have to invest that money since the mortgage tripled because of the cash out refi.  

Here in FL the landlord can be liable for triple the damages. 

Now imagine if you double or triple (or more!)

If you do not do at least this there is the possibility she could sue for its return AND get triple the amount because you did not send you the notice required within 30 days.As for the back rent or damage above the the deposit, I don't know if I would bother.

I don't have a lot of cash to put down and I believe (but will triple check) that the property is free and clear.

To get something like that you would have to triple the purchase price.  

I know here ....I can not get an electrician or plumber or dry wall company to give me quotes on a rehab...I will end up paying double or triple to anyone who will just show up !

Initially I was interested in purchasing, renovating and leasing the units out - there are (3) 2 bedroom/1 bath (approx. 1000 SF ) units, (2) 1 bedroom/1 bath units (approx. 750 SF) and a office unit on the ground floor (approx. 750 SF) , these units would rent out between $950 and $1,300/month - however, the owner was not interested in selling but she did offer the option for a triple net lease. 

I'm 21 now and own a tripled in Chester, NH.

I was able to purchase properties in 12 cities just 3-4 years ago that have all doubled or tripled in market value while collecting large monthly rental income that can never be duplicated.The window is closing in most major markets I believe to duplicate what was done over the last several years, however with our help we can help you find the last few that can make your retirement healthy again.