Initially, I was planning on starting with single family homes because that’s what seemed easiest based on the information that I’ve accumulated over the last couple of years.

Initially I was thinking of buying a house.

I am just wondering what type of legal ramifications I may have against the law firm who initiated the initial process to obtain the warranty deed

I'm in the process of identifying my offer to private lenders, so my question has 2 parts, 1) Do you think my offer is enticing for passive investors, and 2) What type of clause should be in the agreement if the refinance doesn't fully recoup the initial investment?

It can also be a slippery slope, so set an initial amount (i.e. one months rent, $500, etc) as a one time offer and then stick to it.3) You could start the formal eviction process if you current lease indicated they'd move out by close of escrow.

After you buy the home and you have (6) months title seasoning you could refinance that investment to take out your initial cash to pay down your refinance costs. 

Rental properties are often called a way to reduce taxes, but if they are initially cash flowing you should expect to pay more in taxes. 

I wouldn’t initially rehab and refi as there are tenants.

I just decided to get started and last May I bought my first two properties, I would like to share a bit more about the first one to get some advice.The property is in the suburbs of Chicago, near Oak Park:- Purchase price: $165k as-is- Rehab budget: $75k- Closing and loan cost: ~$8k- Down payment: $46kThe appraisal as-is came back at $165k, and after renovation, the appraisal is $293k.To finance the deal I used the Finance of America acquisition & rehab line of credit at 9.24% with a loan of $118k initial and then rehab holdback of $77k to fund the renovation. 

I don't see why it separates the P&I for the initial mortgage and then the refinance under the refinance tab.