Your initial loan amount from above scenario would be $94,500 and you are eligible for a loan amount of 105K (75% of 140K) which would cover paying off initial loan & closing costs for refinance.

If so, I would focus more on multi-family as the City just initiated penalties to owners of vacant commercial space.

I will keep you post on that, lol.The appraiser that gave the initial appraisal said that once the rehab is completed the duplex will be worth $155,000.

If it's only 3% or 5% then its no big deal assuming you hold this for long enough for appreciation to cover the initial down payment plus some. 

I do have an initial call set up with Tom Wheelwright's Wealthability network, but I refuse to be close-minded.

Based on my initial numbers I think I can get between 15-20% CoC return.

My initial strategy to REI was to do some fix and flips to generate some capital for rental property acquisitions, but I just happen to come upon this opportunity.

@Damian BialonczykThat was my initial thought, as I can plaster, paint and drywall so I have some skills that I could use to make a renovation cheaper.

Right now I read 12-18 months after all the needed trials, but China may expedite that if they see positive initial results. 10.

The effects of a collection a long-reaching in this way, so your best bet is to get this fixed ASAP and you be the one who initiates the contact.