The awesome thing about it compared to my typical rental is that my repair calls were non-existent and/or covered by warranty. 

@Chris SukalaThe other comments pretty much covered what you should do going forward and what you should do differently next time.I’m going to cover the “Disabled Veteran” aspect.

I don't remember RE being covered much any of my schooling getting a finance degree, as a series 7 broker or as a private placement underwriter. 

By analogy, this would be like having airplane passengers wear parachutes instead of focusing on what it takes to keep the plane in the air.I think a better way to protect your equity is to:Maintain the condition of your properties and operate fairly and ethically with constant regard to the lawPurchase insurance to cover any inadvertent negligence and/or simple bad luckVest title in a business entity that fits your partner, business, and tax strategyGood luck on your purchase.

New carpet and tile flooring with black marble borders and baseboards, new paint throughout, new window coverings, new light fixtures throughout, mirrored walls, new sinks and faucets, and new appliances throughout.

Granite counters, new carpet & tile flooring with black marble borders & baseboards, new paint, new window coverings, new light fixtures, mirrored walls, new sinks & faucets, and new appliances.

I thought I'd be able to refinance based on 70-80% of my ARV which would cover the loan amount plus a fee to my hard money lender and put some money in my pocket.

I wouldn't be surprised if Square D has a replacement breaker panel and cover upgrade that could be swapped into that box.

You could also loan or give them a set of moving disks with the carpet covers prior to moving in.

Dec 2018Rehab 10kCash out refi’d to new loan of 152000 which covered down payment , closing, and rehab recoupment April 2019Cash flow 619 per month4th2 unitPaid 219 dec 2018Rehab 16Cash out refi’d to new loan of 240,000 got back down payment, rehab and little extra.