Banks know that if the economy goes down and that business goes down inside of that property then their goes the loan payment to the bank...When you combine the cyclical nature of the commercial world plus the risk associated with commercial loans then your refi cashout is a ripe scenario for uncertainty with short financing terms.The reason its uncertain is because the bank does not know that if you cashout the equity in the property that you will actually stay in the property and make payments... 

Dodd Frank and CFPB are expensive mistresses to satiate with compliance costs, which naturally is passed onto you.

Naturally, there is always the chance that you don't need to know anything and could just get lucky.

Fred asked the natural first questions.

Markets are pretty good at responding to supply and demand naturally. 

This allows your property to naturally appreciate while you work through your rehab.

All of that said when a natural turnover occurs you should complete your rent ready rehab & advertise it for the full market rental amount.

SFR’s, Condos, townhomes, duplexes, and 4 plexes.Now with that said I know that CAP rate does not equal market value, but I use it to judge the performance of property A vs property B, assuming they are similar in nature.

If you were able to relocate anywhere in the country, where would you go?My wife and I (and kids) can pretty much relocate anywhere. Our main purpose is for house/apartment investing, using a BRRRR strategy. We could ...

@Daniel DietzYour assumptions are largely correct, depending on the nature of the syndication.The returns you receive would be 80% leveraged.  80% of the income received would be debt-financed, and therefore considered UDFI subject to taxation.  80% of normal deductions such as depreciation, interest on the note, etc. would be applied to reduce the taxable income, and there is a $1000 standard exemption against UDFI that also applies.