I’d refi and invest out of state with those proceeds.

I'm proceeding with my first large commercial project (building a new hotel) and working on finding investors/partners.Here's the deal:The all-in cost for the project is $4,000,000. 

*Shameless plug: Our recently sold a co-op and helped our client use the proceeds to purchase her first investment property. 

@Lina Bibikov let look at the numbers....Flip....You're all in at $75kWorth $129kSelling costs, figure 10% $13kProfit from the sale $41kTaxes fun the profit, 50%Net profit, $21kBRRRAll in $75kARV $129kRefinance @75% ARV, proceeds $96,500Tax free cash I your pocket, $21kSo In the end, both strategies put $21k in your pocket, but one you are left with nothing, and the other you have a rental property making you money.I know which way I would go....

If that amount is more than what you are asking, great... it will be allowed to proceed. 

In most cases those funds comes from the sellers proceeds, but not always. 

I'd also take into account what you plan to do with the proceeds and also if you get the cap gains exclusion. 

I agree about that area and proceeding with caution on the electrical.You mentioned leave myself a buffer because the numbers are tight.

If it sells, he might walk away in 60 days with $10-$15 in Seller Net Proceeds.

I'm not looking to bash this agent's character, but it does beg the question of how do I distinguish when an agent..especially in long-distance real estate investing...is looking out for me or for themselves only?