If you do that then you would need to to wait for the seasoning period to end, which is at least 6 months, but even after that point, if you have done nothing to the home to increase its value or the market value has not increased significantly, you won't have any equity to cash out with on the refinance.   

Her home is estimated to be around $240k and she owes $37k.I'm estimating repairs to be around $10k and I currently have $50k availableI am trying to think of a way that makes sense for me to purchase the house and take care of the repairs so she doesn't have to worry about coming up with any other money, while at the same time not tying up all my money for a long period of time. 

Also, I would recommend periodic (3-6 months) walkthru of the property to validate safety and ensure tenant is following the rules.

Is it after the grace period?

If they wrote them all off this year then your NOI would go down vs depreciating them over the IRS defined useful life for that item.If you want to increase loan-ability, it is better to depreciate those items over a long period instead of writing them all of in the same year in order to increase tax return NOI. 

Yes, high interest sucks, but for a short period of time can be useful. 

This is a 15 year loan with a draw period of 5 years and repayment period of 10 years.

I'm looking for some assumptions for my underwriting for the cashout refi on an industrial property with a credit tenant and 9+ years remaining on the lease after stabilization.I'm specifically curious about rates, amortization period, term, and LTV. 

I also intend to live in the property for a brief period of time so house hacking is also in play for this deal.

Get through that period and then put it back on the market in the Spring/Summer when business picks up and you can rent at market rates again.