The location is off the beaten patch, dirt roads, in a paved sub-division surrounding a lake.

I miss Southern California, such a great area to live!

Feel free to clarify if I missed anything.Also, this is a quick and dirty response so anyone that wishes to expound, please feel free to do so.

My math puts me at pulling $390k out through the cash out refi, with a new higher mortgage payment of about $1650 (to me though this is negligible relative to the equity I can put to better use on a value add investment property).Is there something I'm missing?

You could simply stop and door knock on every house you drive past that has tall grass, missing shingles, or broken gutters. 

I'm still probably missing things but I appreciate anyone helping review this deal...thanks!

I've seen experienced investors miss easy stuff.

I missed two deals because I need to find a Title Company that will work with me.

Here are my thoughts and feel free to share with an electrician:- I have had power surges and missing power issues traced back to a missing phase on the incoming line.

Or your rehab numbers miss something big and you can't get the property finished.