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.

The agent will cover these in the initial meeting so numbers can be run accordingly.

This is the same banker who gave me the initial mortgage on the four properties.

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.