They also hire someone to watch the dog during the day and leave it with family members many other days. 

The tenant is amazing and has been there for a long time, she says she has no plans on leaving. 

You get rental increases and if Chick Fil a ever leaves the site you often have upside converting to absolute NNN leases with a new tenant closer to market rents. 

We're doing buy & hold for the cash flow so that I can leave my day job and play monopoly full-time. 

I don't think refinancing will make sense here at all, Assuming your property does appraise for $166k, and you take out a loan at 75% LTV, that will give you a loan amount of $124,500Assuming your loan fees are the following: Origination: $2,490Underwriting: $1395Processing: $500Title/Escrow/Other Closing Fees: $1800Prepaids: $1,300Subtracting the payoff + loan fees that would leave you with $17,015 at closing.

The biggest thing with house hacking is making sure the property breaks even when you leave after all expenses.

If you don't need to sell to buy out there, you want to see what your cash flow would be when you leave before making a decision.

Holding onto it is a smart decision, and you're entering property investing in a solid position.To get started, focus on ensuring that the rental income will cover your mortgage, taxes, insurance, and any maintenance costs, leaving room for profit.

@Ed Hoffman  actually, you can transfer it via Quit Claim right there at the closing table before you leave the title company.

You can rent it now and then move in six months later, or you can come back in six months to see if it's still available.Here is another example regarding pets.THEM: I have four quarter horses, two miniature ponies, six dogs, two cats, and a raccoon that never leaves it's cage.