What happens if the buyer or seller has tested positive for Covid prior to closing and is relatively certain they still have it on day of closing? 

And above all else, avoid the online lenders unless you are prepared to be run around in circles until you give up. 

I am buying one property to test the market out and build the team to see if it make sense for me to expand here.

That way you can test-drive the house, neighborhood, and area. 

Anyone who tries to take equity from you is not a private lender, and I'd be worried about them being a predatory lender and actively trying to take the property from you.As others have mentioned, if the refinance portion of the BRRRR falls short, you need to be prepared to bring more money to the table to take them out of the deal or have something in the initial contract that provides for them to extend the loan even further (though most won't love that idea). 

Be prepared to spend money - BIG money.

Again, be prepared to call A LOT.Anyway, I hope this helps but feel free to ask anything additional. 

They also do termite inspections and can schedule a hydro test if needed.

The answer to the test- HOLD the property.  

You have to test it because every market is different.