Yakir, You can do a cashout refinance but the fees will likely eat up a lot of the $ you would be getting out.

You’re right permitting often eats up time and budget, and that’s where I add the most value.

I'm ashamed to admit, I ended up eating it a few times.Now I do it differently:Move-in: pics, quick video, checklist, both of us sign off. borderline stuff gets noted.Routine checks: not to snoop, just to catch stuff early and have a time-stamped trail.Move-out: side by side with move-in docs—no gray area anymore.I got so tired of juggling random pics/notes/folders that I finally started building a little mobile app for myself to keep it organized.

HOA dues can definitely eat into cash flow, so it really comes down to what you’re getting in return.

Replacing carpet every year or two will eat into your profit.

I get paying the bills and there is things you can do to help supplement(uber, part time jobs, uber eats, flipping items, etc) but your business is priority. 

This isn’t factoring in cell phone bills, eating out, entertainment.  

If you’re analyzing a property, you’ll want to look at all the main expenses that eat into your cash flow.

Misalignment on scope vs. line items happens more often than most people admit, so you’re not alone there.A couple things I’ve seen work well between draws:Negotiate with contractors to accept partial payments upfront with balance due once the draw hits.Use short-term private money (friends, family, or local investors) to float a portion, secured by the property.Line up business credit (cards or LOCs like you’re doing) but be strategic so interest doesn’t eat your margins.On the line items, the key is communicating with your lender early — if you can show the work is completed and in budget overall, many will be flexible even if the numbers per category don’t match perfectly.

Even when the renovations clearly justify higher rents and values, appraisers don’t always give full credit, which can eat into the cash-out potential.