The bad side to this would be higher interest during the rehab phase and more potentially more closing costs since I'll be refinancing two properties.Since this is my first time having to get a little creative on financing I just want to make sure I don't set my self up for failure.  

Small things like caulk, grout, screws, thin-set are the responsibility of the contractor.

@Mitch P.Yes, you can cash out for the full amount of LTV that the lender requires - some require 75% and some allow 80% - also, a lender that allowed 80% may require 75% on another deal if your personal situation changes - debt to income, etc.The deals are out there - I am constantly on HAR looking at my target neighborhoods - I also have automatic notifications set up when a new property comes on the market that meets my criteria.

I am pretty set on moving out to Europe (specifically London), when I graduate.

I will get 5-10 people before I call them back then I set up showings then I set them up every 15 minutes in the evening usually around 6:00 (because they should be at work during the day hopefully).

Make sure to set up keyword alerts so you can get notified about  topics that interest you when they are mentioned in the forums.Look into attending local REIA meetings.

Hey y'all, I'm a first time poster, a complete newbie, and in need of some advice.I have my eyes set on a 4plex in Florida, and boy is it in rough shape. 

Even if you're an experienced real estate investor, it never hurts to have a second set of eyes looking at the deal.

Post up when there is a set time and date.

Here are some good places to start:http://www.biggerpockets.com/meet - find and connect with other BP members that are in your area.http://www.biggerpockets.com/alerts - Set up keyword alerts to be notified of the topics that interest you.And, of course thehttp://www.biggerpockets.com/forums - ask any question about real estate!