I would make sure you're knowledgeable on Maine's landlord-tenant laws regarding security deposits and the risks associated with renting to a smoker before following through with any of this.

-knowledge of rental market (by street)-are you creating a long term team?

Also need feedback regarding seller financing versus 203 FHA loan that will allow for extra $ to make the repairs and updates.

I’ve just been trying to suck in knowledge, on how to do all this.

Very knowledgeable in this area and I believe they even have a STR located in that county.  

Because I'm raising this extra equity up front, my cash on cash returns are lower than I'd like in the early years even though my cap rate and project IRR are where I need them to be.2.

Make it each for him to see the total amount you are out.And if your list comes up to more than the deposit, then counter sue for the extra damage you were letting go before.  

That cost me an extra $1,000.

Joe is a fantastic mortgage broker and he shares his market knowledge for free.

. - Buy using hard cash, - Refinance my other properties to get the cash back + get the rehab fund, - Rehab of $30,000 to increase it's value to around $230,000- Rental units of 50 units with nett cashflow after expense and mortgage of $1200- Repeat: finding another opportunities with the extra money that I got from refinance Conclusion: I got the property with 0 cash invested (though short term cash is needed & using other property for refinancing), get $1200 / month (still in progress).