If you feel comfortable doing your own books, you could do it as it should not be overly complicated with a few properties. 

You can take all that cash (that you created) out of the deal provided you a.) have it leased so that the house will still cash flow with the new mortgage PITI, and b.) feel comfortable with that amount of leverage on the property.

Is it fair to say that everyone has their own viewpoint or investing niche that they feel comfortable with?

Your question focuses on the Borrower, but also be sure to feel comfortable with equity protection.

That provided me with a sense of understanding how much the homes are worth and a level of comfort.

I would also try to make sure I understand why the lender wasn’t comfortable with the rehab.

Although, income, employment, background, etc all need to check out too.If you are not comfortable, and do not NEED to rent it, then don't take the risk. 

Depends on what you’re comfortable with.

``````````````````````````````````````````````````````````````````````````````````````“Everything you want is just outside your comfort zone.”

It's not a bad time to buy as long as you are comfortable looking and you are doing it safely.