My real estate agent told me that I don't need A/C for that rental property because of expansive maintenance if compare to window unit which tenants will be responsible for.

Many would not have had the required discipline and sunk even deeper.My wife and I have a very low tolerance for debt and though we have utilized some borrowed funds to grow our portfolio it's very small compared to what some think it should be.

Of course, the eventual plan is to refinance the home as soon as possible through a traditional mortgage, to reduce the excessive amount of costs with high interest rates from hml.

Traditional financing with rehab cost being provided by private capital.

I want to compare what my realtor has recommended and see if there is any overlapping in order to make a sound decision.  

What are house values doing, how much are they selling for, what are the tax values compared to actual sales value, etc. and how has this information changed over time? 

I have about $200k in HELOCs and used them to make a cash offer on a property and then I can refinance into commercial or traditional mortgage after shopping around a bit.I have run into a problem with underwriting a couple of times now.

Your depreciation guess seems low unless the land was very valuable compared to the building. 

The reason I feel like we (my husband and I) need a partner is because traditional banks won't finance properties that are used for cannabis businesses so I believe finding investors is the best route.

Traditional lenders take to long to approve a loan.