If you complete the project spending less than anticipated, the remaining figure is applied toward a principal reduction which lowers your loan amount. 

The rehab should be done in the next 30 days and I anticipate about $400 cash flow after I refi.  

Are Hedge funds buying in your city... should investors be following them and buying along side the Hedge funds with the hope of getting swept up in the anticipation of capital growth based on supply demand? 

I don't really care too much whether they stay or go as I don't anticipate any downtime or repairs (perhaps some light touch-up on paint and some cleaning).

Based on how tight the condo market is in Hoboken, it may be worth a bit more than you anticipate. 

I have approximately $700k in equity in my home currently.With anticipation of a recession - what are the ways I can unlock that equity without doing a home equity loan or HELOC?

I would mainly reply on current cap rate, potential to upgrade and other information available NOW to assess the deal, rather than on anticipation of future appreciation.

It's much cheaper to "pay more" for a better property manager who will save you money through competent execution of the myriad duties required, and who knows how to anticipate and prevent problems rather than react to them.

How difficult do you anticipate the subject property will be to sell?

Owner actually split water a month ago anticipating holding the property for a long time.