Learning about money help and fixing up is key, more so with family needs.

I aim to refinance the loan under conventional investment terms to avoid the high interest rates associated with hard money loans.With an excellent credit score, securing a loan shouldn't be a challenge.

Plus, the sooner they sell the property (no matter the price), the sooner they earn the commission.

I currently have saved a lump sum of money...

It could take you six months to a year to get them out and/or tens of thousands of dollars to do a cash for keys agreement (basically give the tenant money to leave). 

Although I don't see it right away, my tenants say that the money comes out of their bank account right away.

Greeting fellow investors, I am doing my first rehab with hard money. 

My loan person said we might be able to do a escrow withholding where they keep the money for repairs until after closing. 

You can suggest to set aside money for CapEx items but they get capitalized in the value of the home i.e.

Insurance typically is not paying for what they consider "intentional damage" and suing a tenant for damages doesn't work if they have little to no money to begin with.