This information was helpful and I am looking into the details surrounding the refi.

Improperly uploaded my image in the original post - here is the detailed analysis!

Hence, 9/10 you will run into issues where you grossly over-estimate your liquidity in the first few months and vice-versa. 

I feel my biggest weaknesses from not being "in the game" are estimating rents/expenses for my projections.

The repair costs are estimated at 80k from my contractor.

Ask @Scott Smith for details on this and how this operation is called.

If anyone else is interested, comment below and I'll send over the details. 

@Mike Calabrese your RE IQ will increase over time and you will be able to do your own preliminary inspections and estimate a rehab in less than 30 minutes.

Those banks tend to do appraisals using internal metrics which are far more conservative to balance. your estimation of payments is correct I think.

No need to highlight that I never should have signed--I am aware and there is a HUGE back story as to why I did that is not significant to the question at hand.Due to frequent flooding, we were planning to have an overhead sewer line installed, as well as a sump pit for the basement plumbing, an ejector pit for the upstairs/exterior water that was leading to the flooding, and tying in the downspouts to the mainline at the front exterior of the house underground.The project, which was estimated to last about 15-20 days, took more like 10-11 full days.