I bet if you ask the inspector if they guarantee there is a leak if you rip open the wall they won’t say yes.

(physical proximity to the subject property, work history in real estate management, PM experience in a different market, and things like that). 

I'm willing to bet you'll command $1200 or so in the spring if you hold.

I wish i could get a 3.5% mortgage... since I can't I have to buy it... you can also give her either cash on closing or a monthly payment during x time.Never trust the owner's appreciation of the physical state of a property, it always be "flawless" walk the property and get an inspection.If the house is already listed and the Broker/Agent wont do the transaction, and since you know her personally and not from this transaction, you can always wait until the listing expires, if she has 30k equity on the house, most of it would be spent on commissions and closing costs.

My bet is your lender required their interest be insured as fee simple in order to close the refinance.

@Kristian KotovBased on what I've read I think your best bet is going to be a private asset based loan.

Or you could go full time, bet on yourself and make 10x that

It is up to you if you want to bet on an appreciation play and take the small losses each month with the ultimate goal of refinancing when rates fall and getting to a point where you can cash flow.

@Robert Dunbar Your best bet is probably speaking with local brokers to get a sense of the ARV.A cash-out refinance may be possible, but as @Jack Mawer pointed out, most lenders like to see some seasoning, and seasoning requirements will vary across lenders.

I bet most of the "sell and get out" crowd doesnt play in CA let alone SD.