It is locked up and secured to prevent vandals (not the legal owners) from entering the property.The bank can be negotiated with like anything else: they can postpone the foreclosure; they may reinstate the loan if you want to keep it; If you're upside down you could do a short-sale; and they have the power to waive fees.

There is money coming in, going out, receipts coming out of ears, bills to track, expenses, two businesses to run, taxes, etc. 

Our rates are annually, meaning , you pay monthly only on the loan amount & the notes are 12 months, with No prepayment penalties and no Minimum interest, were your locked into the loan .Banks have no programs for investors of this high leverage on purchase and full rehab , interest only.So the 9% annually equates to .75% per month, which is cheap, cost effective. .

Yes a cash out refi on your home will cost you closing costs and refinance charges (appraisal, origination, title fees etc), but the value is rates are still dirt cheap, and you can lock in a 30 year note on your home and your new rental for bargin prices by historical standards.

I would caution that if your tenants are already under contract on a new construction purchase, which it sounds like if they're far enough along that builder is "pushing things longer than originally planned," they may be more financially locked in than they think, so have them produce a release agreement before getting too involved in your sale.  

The same market conditions that affect large apartment complex vacancies will generally also affect 4-plex vacancies in a down market.Advantages of having a fourplex is limiting downside risk and having peace of mind by locking 30-year rates (as some people have mentioned). 2-4 unit buildings also allow cash constrained investors to get in on the RE game, particularly with techniques like house hacking. 

Sometimes something comes up that is too good to pass up, so use what you can to get it locked down.

Listen to this...pin your ears back and focus on that down payment.

Access gates shall comply with the requirements of Items 1 through 7 above, and shall be equipped to accommodate a locking device.

Don’t leave value locked up and waiting; make your money work for you!