I heard someone mention on one of the podcasts that his commercial loans can be refinanced almost immediately upon completion of the rehabbing. 

Come to find out the GC used a 4 letter word I won't mention here when referencing his sub.

You mentioned you dont want to go to arbitration or court....almost no one does as the cost of doing so far outweighs what anyone typically has to gain in suing for specific performance.

@Charlie MacPherson Yes all the things you mentioned apply to this transaction. 

I like the standard 1% math using most of what is mentioned here with monthly PITI be 0.5% and let vacancy, repair, property manager be the other 0.5% (unless it’s a condo with a steep condo association fee).

Until I discovered out of state investing and worked hard to overcome some the obstacles that you mention, I really wasn't even able to work on my passive income.

Hey Loretta,I'd suggest setting up keyword searches and looking through BP forum posts that mention your area(s) of interest.

Not to mention the fact that marijuana use in teens, DUIs, violent crimes and armed robbery have all declined in states that have legalized pot in some form or another...... not that were discussing the social ramifications.I could continue to rattle off talking points but the TLDR is: depending on who you speak to the marijuana industry gets a bad wrap, in my humble opinion its nothing short of a windfall for states that have embraced it....

Also, its important for me to know what the closing costs and the LTV cash-out is going to look like.Some lenders mentioned that I will need to wait a 6 month seasoning period for them to offer me an X percentage of the value, and If I want to refinance sooner they'll give me less. 

Since you mentioned water, you might need some framing and subfloor work.  +$1000Add some insulation $500.If you can nail a few of these assumptions down that are big, then you'll be able to get a good price.