Hi,So I have a question based on this hypothetical to see the mechanics of a refinance, specifically a cash -out refi. 

By sticking with a finite type of house structure, you will already know exactly what all the cost points will be, regardless of whether the house needs a new roof, new mechanicals, substantial drywall replacement, etc.

All you have to do is describe the goal and let them figure out the mechanism to accomplish that goal.

One shure way to monitor PM performance is to have some direct contact mechanism in place for contact to the owner(seperate e-mail, voice mailbbox,etc.).

I will be happy to go into more details -- I gather there is a message mechanism, I am also new to BP.  

I find that most of the flip remodels consist of kitchen, bath, flooring, and paint, while the big ticket items that actually improve the quality of the home and prolong the life of the property are ignored such as roof, structural, mechanicals, and hidden items in crawl spaces and attics (water penetrations, mold, termite, etc).

You could also get quotes for a new roof and mechanicals and divide the costs over their remaining lifetime or if it's a value add replace them both during the reno.

I have a mechanical engineering degree and an MBS in finance.

I am looking at an 8 unit property, 10,000sqft,  that is vacant for 12 years. property is in Cleveland, was vandalized and will need everything done - plumbing, roof, electrical , mechanical, windows and of course everything cosmetics.I was hoping to get some insights from anyone who did such a project mostly in regard to cost.Seller is VERY motivated and basically selling it for cents on the dollar, rents in the area can be VERY high and im very confident in the underwriting of the transaction - only thing that is missing for me is the rehab cost.im scheduled to speak with contractors next week that specialized in this kind of projects but wanted to hear personal experiences before.absolutely not looking to get an exact number - just a feel of what should i expect.I figured if I'll send 37.5k per unit(300k rehab budget) I have a really good deal.If I'll spend 20k per unit(200k Rehab budget) or close im knocking the ball out of the park.How far fetched  are those numbers?

If the building is in good mechanical shape and you self manage (since you're living there), I think you can keep those numbers lower.