Those type of investors would almost certainly want a higher return than you would pay on a mortgage so it doesn’t make sense for you2) If you have stabilized the property and improved the NOI you could do a cash out refi to get most of your capital back but you would still maintain a cash flowing asset.

When you have a list of 3-5 good ones, be sure you also have a list of why yours is better than those.I would type out a list to hand to appraiser of all improvements you have done. 

The best part it was 7 roofs away from my primary residence, so I'm was improving my own neighborhood.

You mention that with minor improvements (within your $5500 rehab costs??)

Need to improve my systems and have a better checklist for estimating repairs.

Here is the information for you to read, it falls under "builds or improves for resale or speculation" https://www.dli.mn.gov/busines...MN DLI requirement are for general building including pulling a permit for an egress window or any general building permits. 

After a year we refinanced it to improve the cashflow and I had to replace 2 hvac units and remodel the entire back apartment.

I am willing to take more risk on commercial if I have solid strategies for improving NOI.

A part of my plan is to perform a cash out refinance to improve my ROI, purchase a new home to perform a live in flip and rent out my current house. 

Live in flip can work here but I have seen many DIY "improvements" in Moreno Valley that harm the long term prospects for the home.