Moving air always helps basements dry out more.

Both property types can cashflow big time and both can suck your savings dry.  

The conservative approach Joe laid out for you or the more agrressive cash-out refi approach.There isn't necessarily a cut and dry right way to do it, but rather it depends on your individual goals and risk tolerance.

My research on Drylock indicates the walls must be dry and on unpainted masonry. 

That signals to me that the fundamental value add deals are drying up and investors are trying to squeeze everything they can out of the assets before dumping them and sitting on cash until a correction comes about.Lastly, I think my view is skewed since I started paying attention to the market during the recession.

There were some plastic planter boxes on the ground and an open bag of soil on a deck box, a bottle of insecticide in the grass where I fell and 2 partially empty water bottles thanks to kids.

In reality though, what happens in most cases is the wholesaler will cancel the contract and walk away from the purchase leaving the seller high and dry. 

This was all solved by a can of Bull (Black Tar, Wet or Dry) that stopped the leak.

One other piece to consider other than the contractor's comfort is the drying time of drywall and other things during rehab.

That sounds pretty cut-and-dry, but I want to make sure I'm not missing anything.