In all, we were able to do a cash-out refinance after 1 year and got our entire investment, including down payment, back into our personal accounts and we still have a cash flowing property.The beauty of smaller town and communities is that often big-time investors are not looking at them as closely and they can cash flow quite well, at the sacrifice of "natural" appreciation.

@Wilson Lau does $400/sq ft includes everything - including foundation?  

This includes self storage and multifamily.

I am writing my business plan and I am trying to figure out how I will include in the renovation costs from a percentage of the purchase price, This is if I even have to because of the business type?

The same way we attack any debt we don't want to anchor us anymore- by punching it in the face with large principal payments.We buckle down, make our own coffee, brown bag our lunch and eat/drink at home or bring a picnic to the park Dave Ramsey style.   

Quote from @Trino Martinez: I came across an article (link below) about a proposed bill (HB355) in Utah that did not make it out of committee that would include among other things a requirement for landlords to give 60-days notice for rent increases.

Also are utilities included?

I told them that I had already paid an extra 3% service fee, which they could deduct from the balance, but they claimed it was already included in the mortgage and could not be used for a refund.Now it seems they are fully scam.how can I do to get my money back, I have lost around $6062 USD for this case.Because it is criminal, can we report to police and get the money back? 

If you can find a vacant lot the bank includes the land cost into the loan so you save money in the long run. 

The table didn't include the "organizational cost" or the management fee, but in the "Confidential Private Placement Memo (50 pages) : they listed it as  $35,000 and $15,000 respectively.