I think these are way less scary than the pier and beam variety, but maybe that is just me.You then have to let the house settle for some period of time before you really set about your renovations, but you can still use the time to rip out old stuff, get your materials ordered, and gather bids from contractors - all things you'll need to do anyway.

Agree with Adam, and that fee assumes clean and reconciled financials are provided (trial balance, profit & loss, balance sheet, and general ledger in Excel format).Partnerships are anything but simple now. 

Are there any drawbacks to refinancing twice in a short period besides the additional closing costs? 

I don't think the waiting period that most lenders require is a secret.

Call an agent and get a quote, don't guess at it or take the word of some moron like me off the interwebs :) Taxes are easy enough to look up and you're paying taxes on the land and building, I don't believe there are commercial or residential taxes, just property taxes period, but I could be wrong...so look them up online or call the city. 

All of this will be from real estate sales with a holding period of longer than a year, as the development and sale will last past 12 months. 

I didn't reply until today but still no response.I have it in my lease, that if your utilities are OFF for a period of 5 DAYS or more, that you forfeit your deposit and vacate the premises.   

I know that there is a 3 day period that tenants can back out, but is there any amount of time that I would have to allow them to get the security deposit back if they back out? 

This doesn't JUST mean that hourly employees will have fewer hours, it means all the small businesses that support the industry (venues, catering, staffing, rentals, florists, DJ's, bands/musicians, photographers ... the list goes on and on) will have a period of lost revenue, OR potentially, if the country decides to go completely bonkers and continue shutting everything down like Italy has, no revenue at all.

When you have a small mom and pop investor owning one or two SFR, they may not think of these things period or it just doesn't make sense to do and/or they just don't have the money and they either can't get a loan or a loan will take a very long time to recoup.The reason I agree with you that it's possible.