The primary reason is because the property is vacant and a number of independent contractors are in and out of the property thus increasing the chance of a claim or loss.

WOW, a lot of writing to say, both tenants complain of noise, KISS :)Tell them to work it out, you are not a babysitter, 

Purchase price: $212,000 Cash invested: $67,000 Great starter investment home. 70% ROI What made you interested in investing in this type of deal?

Cash is king and I see people make money on a deal and buy a car or spend it on their lifestyle - I did the opposite.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Quote from @Darren Berg: The estoppel is a form filled out by the tenant, then confirmed by the Landlord, then accepted by the Buyer.

But if you need fast cash and have a valuable property, hard money loans could be a better fit.Have you had any experiences with either type of loan?

by the way how did the refinance go?  

Still learning.How much actual cash have you put into the deal so far? 

@Patti RobertsonIn Virginia, is the contract assignable by default or do you need to have it specifically spelled out in the contract that it is assignable?