@Seth KristianNot an attorney but fractional reserve lending has been challenged in the past as have mortgagesIn most cases unjust enrichment can come into play when it’s disputed but if you did not receive the $, you cannot say you don’t owe it back.If you want a crazier case read greenleaf case in MaineThat one is actually case law (this one Daly had it overturned).Free homes in Maine forMany if they knew about it.

With the projected rents, even after a refinance, your ROE is a negative number. 

If I look at ROE, I might realize the house has appreciated and I can take that equity to get a better return by selling the house and investing in another property elsewhere. 

Target would be to have maximal leverage (ROE), but with the constraint that it has to be cash-flow positive (factoring in mortgage costs).

4843 & 4845 Roe Lane, Roeland Park, KS 66205/ DuplexThis is a great deal.

@Monica BergerIn a community I own in Virginia (golf course community) they just imposed STR restrictions - nothing you can do except bring in a new board to overturn it but that’s probably not gonna happen

It's possible to deleverage in an exchange, but only if you accept some tax hit (partial exchange) or bring outside cash to the table, which can hurt your ROE. 

One thing you didn't talk about was equity, taxes, or ROE.

. - Annualized ROIFor Rentals that we hold in our portfolio, that were perhaps once BRRRRs, I analyze based on ROE - Return on EquityHope this helps

Read somewhere a guru not accepting anything less than 30% ROC and 100% ROE but that would be very difficult in certain markets these days