CT Interest Rates on Short Sale Purchase

[Jarrad Horsley]

Hey guys, so I'm waiting to close on a property that I'm aquiring through a short sale. It's been a back and forth battle just to get to these final stages. I'm waiting on the attorneys to figure out their issues with the sellers two lienholders before I am able to close. (That's holding up my short sale approval.) The interest rates are going to go up. I plan on refinancing in a year to hopefully accomplish a successful BRRRR strategy. They want me to pay $570 cash extra at close to hold my rate at 4.75%. When it comes to tax advantages would it just be worth taking the higher interest rate since a refinance will be coming up within the next one to three years? I still am waiting to hear what the new rate is so I can calculate if the extra money on the monthly payment is going to mess with the cash flow and ROI. Any suggestions financially and for you tax experts I'd really appreciate. Thanks!