@David Rutledge Deferred maintenance could be as simple as ripped window screen, cracked plate covered for electrical outlets, small burns on counter tops from hot pans, sealing a small leaking pipe with duct tape, not touching-up the paint, trimming trees that overhang roofs, etc. up to maybe a little bit of bowing in the floor because some water was there at some point. 

Suppose this home did burn completely in a fire.

Renters of multi's tend to be evicted more often and cause more problems particularly if they are section 8 properties.Since we are doing what if scenarios, what if you have a 10 plex burn down versus 1 of 10 sfh's?

So no reason to burn bridges.

Or if it seems like you have the rare seller who will care, just double close and call it a day.At the end of the day, the seller cares about 2 things.1) The deal closes2) Whatever check they are handed at closing is for the amount you told them it would be when you signed the contract.They don't care if you sell it the next day, rent it, spend 200k rehabbing it, burn it down, drop a bomb on it, paint it purple, or let it sit empty for 9 years.

I didn't read it all btw, my skin was starting to burn and the lights in my house started to flicker.Link to PDF in my dropbox

At this point I'm so new in the game and have so many questions still, I don't want to burn bridges for future deals.I'll update with his response.

Large factor of course is also in what region of Minneapolis.At $1500 for a 3/1 unit in a duplex; you are just bellow market in South, above market in North, and probably about spot on for North East.If you comps are looking at $300k, and your NOI is at $36k, you are coming out at a 12% cap rate, thats decent if you are concerned with cap rate.For an investor @ 25% down:36000/75000 ~= 48% cash on cash return, IF you require no repairs (obviously excluding closing costs in this calc as well).IF you have $75k burning in your pocket this could be enticing.For a owner occupier  @ 5% down:18000/15000 ~= 120% cash on cash return.

If you bought this house to flip it and you're almost done you should focus on finishing it and selling it and not be distracted by the fact that you want some cash to invest in multi-family.If you borrow money out of it and then sell it as a flip you will burn a lot of money in fees and transaction costs.If the house would make a good long-term hold as a rental though, you may want to consider a cash-out refinance, hold the house as a rental and move to your next deal.

Like everyone, I've been burned in the past and I'm trying to avoid being burned again.