I would caution you against increasing the down payment to make the numbers work.

2) Is the extra LTV on cash-out worth the increase in interest rate and if not, how much LTV would I need to go get the next property?

After these meetings, the GC often asks the subs to increase their bid.

My property tax increases have been 17% for both homes (no Proposition 13 like in CA with our max of 2% increase).  

I believe CA market in general is expected to increase by 4-5% but SF is unique. 

The shorter the prepayment term has an impact on increasing the rate.4.

I think it really depends on if you are able to increase that cap rate with value-adds post acquisition.

The use of online classes has been increasing every year and are projected to continue to increase.

It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $459,000 Mortgage Amount (80% LTV): $367,200 Equity: $91,800 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop to 5%Monthly Expenses: Mortgage Payment (5% Interest): $1,971 (Now you are paying interest and principals) Property Tax: $260 (assuming has been increased with a 4% from last year) Utilities: $361 Insurance: $104 (+4% Adjustment) Vacancy: $166 (now after 12 months we can assume we have some vacancy at 5% factor on annual rent) Repairs & Maintenance: $166 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $3,028Rent Income after 12 months assuming annual rent increase at 5% : $3,323Cash Flow: $295$ per month 😊Long-Term Gains: $5,418 Principal Paydown year 2 (this will increase each as you pay off your mortgage $36,720 Property Appreciation (assuming 8% per year) $3,540 Cash Flow (this will increase as rents rise)Total Annual Return on Investment: $45,678 with just $ $22,789 remaining in the deal.

- However, I’ve seen general Fannie Mae guidelines that suggest if substantial improvements have significantly increased the property value, you might be able to request PMI removal earlier, provided the LTV is 80% or below.