Another unit then vacated & within 25 days I had it rehabbed & rented for an extra $250/month plus they now pay all their own utilities.

You can offer the property and maybe extra time and they would be glad to go 50/50 or better if there is a good spread.

I think the tendency for most people on flips is to spend too much money on renos and if you are in an A+ neighborhood, there is much more upswing available to handle the extra costs.  

@Vince Futia  check with your local laws to see if they allow an extra amount for a pet deposit (not allowed here in NJ) and definitely ask for another $25-$50 per month depending upon the number, size and what type of pet it is.  

The more units turn and burn the higher the repairs and the less cash flow.If local and you can get non-recourse and walk away if it doesn't work out then maybe you would at least get an education out of it for your time.

If I refinance as a consolidated mortgage, I can put them on a 30yr, 5%, 5yr balloon, and create an extra $1750/mo cash flow to reinvest.

My sister rents a basement apartment in a houseshe only has liability ins on her old carshe has no renter insurancethe home owner lives in the home upstairsher car had an electrical fire and burned to a crisp in the drivewaydamaging the outside of the the landloards garagewho pays?

@Rich Hupper, here is a thread that discusses IRR - even though the thread title is a misnomer:- https://www.biggerpockets.com/forums/311/topics/25...I don't know that "loss to rent" is any specific extra cost that you haven't already allowed for (but @Will Barnard might respond).

As an example, I was selling an 8-unit building and the building burned down while it was being sold.

My name is Alvin Aquino,I am residential real estate investor, I tried working hard to know all what i need to avoid mistakes, being very extra careful, by doing my due diligence, planning ahead, as a result of this endeavor, I felt i wanted to full proof investment due to economic situation, so we diversified into commercial retail business with the family.I currently own a townhouse, a rental property that pays the mortgage on my current home in full, and I decided to built another single detached  house close to the church which the family really like, the condition to the lender is to sale my current home, but now we decided not to sale instead rent it out.I am seeking advice and direction on which financial institution to go or a way not to sale my current house instead have it rented to create cash flow and appreciation of the house.