What we do offer is to be mediator, if you can get them all to sit down together (sometimes at the unit is easiest) then it's really not hard to get a payment from the tenant that is causing an issue.

That said, it's easy to do it wrong and cause yourself endless heartache. 

Reason I ask is because what would happen in the event that after the LC was executed, the tenants were to completely trash the property (or some other scenario causing extreme property damage) and the expenses to repair would be so high that it would not make any financial sense to repair and re-rent out, and so the new owner decided to cut their losses and strategically default? 

It's nothin for me to follow up cause I can plan that phone call out but My friend recommend me to get 2 virtual assistants and have them answer the calls and handle the other things I'm not capable of doing while driving, so I come to you today asking you guys what should I have each of them do?

Don't try to double close it could cause problems, try your best to do an assignment. 

Its just knowing which ones to use to get what you want and what the pro's and con's are between each product given the goals you're trying to accomplish.A lot of bankers and independents in socal broker to TCF like Chris mentions above.I've had good experience getting rental income to be used in similar context to the above mentioned.The formula is simple for rentals that dont yet show up on your tax return its 75% of gross income minus PITIA (principal/interest/taxes/insurance/assessments) to arrive at your net income figure that will either be added to your income column if its positive or a liability to be qualified for if its negative.In cases where you just want to do a cash out refinance loan you could use 1 year tax program with Freddie Mac to avoid having to average both your 2015 and 2014 which causes more paperwork and more things for an underwriter to sift through and demand verifications and documentation on.The nice part about using a 1 year tax program for self employment or realtor income (in your case) is that since there is only 1 year tax for your self employment we only need to use 1 year tax income on your rentals  as well which is a little known secret in the residential conventional lending world.This is great when you have a great 2015 or past return but your 2014 or 2 year ago return was not as good.

Not using a central system can cause mildew problems on top of everything else.If you really don't know what's standard in the area you're building in though, stop to regroup -- you shouldn't decide anything without figuring that out. 

WHY would a bank deny my refi, and what will cause a bank to approve a cash-out refi?

I was there post-Occupy and pre-BLM, so I guess I missed part of the experience (the cause du dour part) however.I've heard of folks getting involved in RE early, as you have.

Do you think any of this will potentially cause this unimaginable plummet?