Despite providing a detailed bid from my contractor, I was informed that it wasn't comprehensive enough.

If so, a best course of action would be refinancing those into lower-rate perm debt which should lower monthly payments and maybe provide some cash-out - that would be the cleanest/most conservative way to build up some more capital

Thank you all for the valuable information provided.

I’m additionally, wondering if that’s gonna affect my credit.

Therefore, the vacant 3,250 SF corner commercial space will also provide for a place making opportunity that will benefit future projects.How did you find this deal and how did you negotiate it?

I added value in 2 ways, by remodeling the home, and letting time provide me with rental appreciation, so by the time I was ready to move on, the rents in the neighborhood had gone up substantially.

The value I was able to add to this deal, was mortgaging the property to provide all of the cash to the seller.

James, I tried doing this in another city which I was not a member of their mls, after signing the contract and paying the fee, there were a lot of additional charges, like they wanted me to pay for the lockbox and shipping fee, I had to take the lockbox to the property, in the contract they said they will post 15 pictures, but they wanted me to provide pictures they would just upload it.I'm just trying to say double check and make sure what is included and what is not, if you are in town, it will be a lot easier but for my case, I didn't want to drive few hours to run their errands.

First,and before anything else, you must decide are you wanting to run a business or a side gig that provides a few homes to vacation to. 

We use everything we can do to provide more exposure and potentially find a quality tenant, including MLS.