In fact, it's standard to "leave meat on the bone" for the next buyer, so they deliberately will not complete every possible improvement to the property, and then the property can be marketed as such to the next buyer, along the lines of "25 units have been upgraded and the rents are $50 higher.

I'm interested in flip and fix and buy/hold down the line.

Bottom Line Up Front (BLUF): if I use a personal friend to loan me money to buy my first property, can I still use the “cash out” REFI technique with a bank in my BRRRR strategy?

We're able to leverage our institutional finance + operating backgrounds to make a better product than the typical deal analyzers out there.

Using skype like that is almost as fast as a single line mojo and much much cheaper.

For your amusement go to Amazon and look up the Advion gel product and read the first review.... rofl

There are lots of great Buffalo people active here so dont hesitate to drop any of us a line with questions. 

Ive considered doing a 1031 exchange on the property as well as a HELOC or unsecured line of credit among other things.

It would be closer to existing water lines and drains for example.

I don't think it's a bad idea if the tenant will go for it but I don't think the psychology of the average tenant lines up with your theory.