Which is true - but the refi is going to cost you $3,000-$5,000 in closing costs again - which actually moves you backwards by a couple of years to recoup those costs at the $200 more per month you will make once rates get back down to 5.x%.My bet is that unless you can find some seriously undervalued real estate that your numbers won't look pretty at 8% interest (all in).  

I do agree that mechanical upgrades are a good idea if necessary, those are almost always a safe bet for ROI and resale-ability.

Quote from @Thomasina Pearce: Quote from @Gladimir Lobo: Heading downtown to try your luck at Jack's is a much better bet.

I bet you do a great job rehabbing!

Looking forward to hearing about your progress!

Hi Jerome - MTR is certainly one of the areas of lending that is still new and lenders are still adapting - probably going to run into trouble with more traditional and conventional lenders - which generally take a long time (years) to adapt to new trends like thisI wrote about this late last year as one of the developments to watch for 2024 - particularly how DSCR Lenders are approaching, which is likely the best bet for this investment type currently (but note not all DSCR Lenders are the same - so will need to vet and pick one that is MTR friendly and generally forward-thinking)What’s Next For DSCR Loans?

@Mike Musarra  If you plan on doing a BRRRRR your best bet will be refinancing into a DSCR loan.

At those numbers, the insurance will never kick in other than for catastrophic losses.And also, are you saying Allstate, Progressive, and Safeco don't know what they are doing, or conspiring to offer only 230K coverage (on a house with a market value of 250K, which includes 40-50K in land), while Steadily considers necessary 340K minimum coverage (house only, and that for $2-$300 less in premium)? 

Thanks If you are looking at class A-B, the suburbs are a better bet dollar for dollar. 

Kyle has a lot of development underway as their mayor is very progressive and has been pushing multiple initiatives to attract business and growth (including tesla)