The take down loan, then separate refis for each.Decisions, decisions...Cheers!

Quote from @Sharon McCants: Consider all the factors before making a decision.

There are so many posts every day about being stuck mid-renovation, out of money, or at a standstill because of decisions made that could have been avoided.

I was also told it was a business decision not a regulatory restriction.

If there are significant developments planned in the area, such as big companies opening, new apartment complexes, hospitals, or malls, it could actually be a brilliant idea to buy properties, even if there’s currently no cash flow.Just something to think about before dismissing it as a poor investment to hold onto.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck. 

This is another example of why it’s so important to have a good team of experts around you to offer options and discuss the consequences before making any decisions.  

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

., as Bad habits in one area typically carry over to other areas, and will land you a poor Tenant (or co-signer) choice.

You should really analyze your options, as data should make your decision easier:)How much have you been making on the STR?