My ultimate goal is to leverage this property and take out money in it to purchase another one and the cash out refinance was, what I thought, the most effective way of doing that without touching my own money.

Thank you for sharing this incredible accomplishment.

Do you have more information to set-up a cost effective “regulation crowdfunding” and accept capital from non-accredited investors?

C/D Areas is incredible difficult A is a no brainer. 

They are section 8 tenants who have ended their voucher effective 8/31 also.

Then the majority of the rest of the income should go to your company because you have really created the ongoing value that drives revenue to the property.The exception can be when and owner or developer has painstaking developed an incredible product they are entrusting you with where you don't have to do any of the initial set up and can more easily take the reins on ongoing operations of the property.The best property managers are picky and often turn away lots of owners because they understand they have a brand to protect and because they know they bring a lot of value to the real estate owners or developers.My goal as developer and investor in this niche now is to create an incredible product to hand off to professional high end manager that knows how to be host to guests and is hospitality focused.

There are non-tax considerations, especially so in the current environment.I'm hearing from my clients that it's very difficult to get contractors on the job and they're charging an arm and a leg because they all have an incredible backlog of work.In the current environment, I'd say the less risky path is to acquire a property without deferred maintenance and do a cost seg if it is beneficial.

If you don’t mind sharing your common spaces, this can be a very effective way to go.

For instance, I did a parcel split recently in Pinellas County that took about one month to get ready submit to the county appraiser's office, one week to get approved (incredibly fast and smooth because all the necessary prep work and staff discussions were done in advance), and then one more month to be fully updated and reflected in county records; the approval noted the parcels resulting from the split met the minimum zoning requirements and could be considered buildable parcels, and imposed a restriction that any subsequent splits would require full subdivision site plan and platting.

If you are looking to invest into real estate, I have found this site to be incredibly helpful.