The initial lender or noteholder is paid off by the lender who is refinancing the loan and the net difference to the borrower usually is any array of revision to loan terms (rate, term etc.).Sometimes the borrower voluntarily refinances a loan because there are favorable terms they could benefit from and sometimes the borrower refinances because they have to... such as when you have to get out of a hardmoney loan post rahab or if you have some flavor of an ARM or balloon loan that matures or becomes due.

You can't control how old that you are but you can control how mature/professional you are.

He explained that he did take over a legitimate persons identity and LLC He suspected the calls originated from overseas but were made to look like a Nevada phone numberThis game happens all over . 

The identity of the buyer is not the issue.  6% fee is not unreasonable. 

Long term holds are a slower snow ball.Do you anticipate getting more involved with long term holds as the flipping business begins to mature?

The best possible comp is the identical floor plan right next door.

A near identical property with slightly better features (larger yard, driveway and a little prettier) sold a week ago for full price, $235k with multiple backup offers according to the agent.The property is 12 yrs old and feels like a worn rental.

More attractive because it will be appealing to *SOME* SFR buyers who might occupy it and be able to derive additional income from it where a standard 3 or 4-plex would not.Less attractive because it will turn off many investors because they will want to standard building with identical units since it's less maintenance (under one roof).I am trying to debate whether I should stay with SFR or real MF, or consider some of these in-betweens?

Very uniform identical units. 

Or do you use an identical discount factor for all years on the same property?