The biggest ones are property management (I don't live in Newark), amortized maintenance and amortized capex.

Cash-Out RefinancePros:Fixed-rate loan gives you certainty in monthly payments—big plus for investors.Cash out now = immediate funds for your next deal or two.When rents go up (and they will over time), your cashflow dip is temporary—eventually the loan gets cheaper relative to income.Cons:Yes, you’ll lose some cashflow right away because of the new mortgage.Closing costs and time to fund can be higher than a line of credit.2.

Adjust your rental rate from the $120 per month down to $50 per month. 

A few key things to know:Rates & terms: Expect higher rates than a standard investment loan.

The challenge is two fold, you basically need a higher rate, lower DP bridge loan to get you to 12 months stabilized, and then also want/need it to be no PG.

@Juan David Maldonado if it is a new hospital and not a relocating hospital a 3/2 initially it is likely going to appeal to relocating tenants as I expect they would attract staff to the area.   

I also pay some utilities which are roughly 400 a month. 

Can you financially sustain 18 months plus retro costs on the building if the tenant leaves?  

You're already in the right spot, being on BiggerPockets.A duplex within 12 months is a very achievable goal if you stay organized, focus on financing options, and line up the right team (lenders, agents, and a CPA familiar with real estate so you don't miss out on tax-saving opportunities).

Even if you get $2300 per month you'll be negative cash-flowing.