Hey everybody, I've been listening to BP podcasts for a couple years now, and I'm excited to finally get in here and start accelerating my learning and meet some like-minded people. 

However my understanding is that exceptions can be made if unexpected life events happen such as job relocation, eminent domain, marriage, divorce, changes to family size, deployment, imprisonment, bankruptcy etc. 

Finally, I get an annual disbursement of $40k.

Was the condo a good size unit and in good condition?  

If it is indeed I/O, I would just make sure you have enough NOI to cover the refi with some conservative debt sizing assumptions.

I finally found the perfect flip in Coronado, San Diego—the agent hasn’t received any offers, the listing price is reasonable, and the home has huge potential.

In addition to that, the septic tank is undersized for the size of the home.

Decent size umbrella policy? 

There is no one size fits all answer for this question, market to market, and property to property are all different. 

Commercial programs a heavily dependent on location and NOI (less one size fits all compared to residential).