If they believe that the Administrator can get a better offer they can object to the sale and it will go to court for court confirmation. 

Single family mortgage of 2200/month (yes this crushed my cash flow and ability to leverage a lot of the equity in 2 family and am fully aware and heartbroken) and about 60k in 401k/IRA's/brokerage and only 30k in equity at the new house after some improvements.With interest rates recently climbing I've become more hesitant to refi on the two family, but see it as our only option short term to move my objectives forward.1) Is a Cash-out mortgage/refi my only option?

It depends on what the objectives are.

Your movement into any industry should involve building a community, but it always should begin with self-reflection and understanding your objectives and current financial position. 

I have no objection to that, but the problem is timing.First of all, no one can really time the market.

Now that can represent a value-add opportunity but it's best to know that before making an offer.Personal advice, take pictures if they don't object and make notes in real time.

Not to mention when you're vetting deals the 20 unit property has probably been professionally managed so you have a better chance of getting a genuine/objective T12.There are advantages to 4-plexes but it seems like you're leaning that way so I'll still with the "devils advocate" for larger unit complexes. 

These would be two different objectives assuming you plan on managing the local market deal vs. being a passive investor for a syndication out of market.

I think I am willing to repair 4 failures which make sense, but I would like to question and object to 1 failure.

My objective is to eventually get my RE license at some point with the sole purpose of buying and hold on future properties and/or wholesale/retail if specific properties doesn't fit my buying and hold criteria.Thanks in advance, BP is the best!!!!