Please give me your input -Deal Advice

[Andrew Jones]

Bought the house for: 230,000 Repairs and upgrades: 30,000 Downpayment: 45,000 Rents for 1,700$ As Is: Cost to own 225$Taxes 100$ Insurance 250$ electricIty paid by tenants 754$ mortgage and Interest (Interest rate 2.75) total cost: 1079$ positive cash flow: 621$ ARV: 300,000 so what I would lIke to do Is refInance the proprety Downpayment:45,000 Forced equity: 75,000 Total equIty: 115,000 NEW Loan: 300,000 20% of 300,000 is 60,000 So I’d leave 60,000 in the proprety and use the 55,000 to buy another proprety. 250$ taxes 100$ insurance 250$ electricity paid by tenant 978$ mortgage and interest total cost 1328$ 372 positive cash flow The property in my opinion more than covers the cost of ownership. Unfortunately my mortgage broker tells me it will be hard to finance. The bank will want to include the cost of heating and will only consider 50% of the revenues. Which means that it will look like I’m almost just breaking even and I am only making 850$ a month. I want to be a long term buy and hold investor but it seems like my money is stuck in the home and can’t be recycled in order to buy another property. Is it worth just selling for the 40k profit? (40k-7k in fees = 33k) then taxes at 50% capital gains on that 33k =~15k in my pocket. I’d put rather leverage my untaxed earnings (40k) than be stuck with only my taxed earning (15k) to reinvest.