We are past the option period and the loan is already underwritten and approved by my bank.

Actually,, YOUR State law dictates the period required to return a sec deposit statement.For some one like this,, I would have done a statement with outstanding rent owed and included a statement the date apartment was listed for rent,, and that the outstanding balance due would be adjusted as to the date the apartment is rented.You might have missed your window,, you might be out everything,, What did tenant sign when she left ???

Just needed paint.Before.After.It seems they updated the "before" photo post-paint. 

Is a grace period required in Massachusetts?

Period.

The lease that I am using is as up date date as any lease for the State of Minnesota, and it includes "Lead paint warning and disclosure.

I'm starting to analyze deals now, nothing solid yet but I'm expecting to use a good property manager and a contractor to make some updates on the property that we will buy since most of those in our radar are older homes.

Lastly, keep in mind the % of the value, you can get as a cash-out, and if there is a seasoning period with the lender(s), you are looking to work with.  70 - 75% is typical.  

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. 

Will update when I purchase my next properties.