Lots of listings state seller will not do any repairs, however, if you uncover hidden items not present during standard initial walk through, you can certainly re-trade the price to cover the added costs.

I have family in Utah, 84414 some who are expressing some interest in real estate investing too, but I have not been there in a decade, but initial search is showing some depressed areas, but high crime areas.  

Hello,    I am currently working through the initial diligence process for making my first multifamily (2-5 units) investment and am currently weighing the pros vs. cons of investing within my local market (MA, NH, or RI) vs. out of state - where there are likely higher growth (Orlando, Tampa, Dallas, Raleigh) or higher cash flow (Cincinnati, Cleveland, Columbus), but for which I would likely need to establish and rely much more heavily on partners in identifying opportunities and for ongoing management.  

I am currently house hacking a duplex and was curious if I can ReFi (cash out) at the 6 month mark or do I have to still live in the unit for 12 months as I agreed to initially when I took an FHA loan.

My first foray didn't end as successfully as I would have liked, however, was definitely a learning experience (my BP bio has a high level walkthrough of my initial experience with real estate investing). 

Initially, I see it as a bad deal.

My initial strategy was to brrrr the unit for a 920 month cashflow but a change in plans with me about to move out to another state I’m wanting to sell it as soon as completed.

I have had the initial conversation with them and they are open to the idea.

The biggest con that I experienced was that after receiving the initial check at closing to fund the construction, I had to put up the money to continue construction after that.

It was an initial shock to the tenant but they eventually agreed to the terms and that's what worked for me.