The issue that I'm concerned about is the finding a bank to refinance my cash out.

It will need some renovation and there are concerns about plumbing and electrical that needs some due diligence.   

My assumption (which could be what is causing my confusion) is that a homebuyer who is seeking a lower monthly payment for two years is doing so due to financial constraints and needs time to adjust to a mortgage payment and the expenses that come with owning a home. 

As @Andrew Jones mentioned, there is a lot of growth which has caused a large increase in demand for properties above 635.

It's also an oxidizer, so if you were to vent near a flame, it could cause that flame to be a lot more energetic.I'd post on your local Facebook group and look for anyone interested in scrap metal. 

I would say the biggest concern with a condo association is to make sure that the association is in good financial standing. 

I will avoid 3 bedroom on top of the vacancy concern.

@David Smit On average, B type properties - solid middle/upper middle-class in good school districts will not cause your portfolio to suffer from losses.

My concern is that the business having such a low % of tenants that complete the process that it seems as though a good part of the reason that RTO / Lease option is so popular is that the failure rate is what is driving profits. 

You mention UDFI not being a major concern but what about UDIT if I decided to finance?