If you provide specific information such as the address, property purchase price and value,  credit, property rental income, taxes, insurance, experience, and Fico you should be able to get a term sheet detailing all the closing costs. 

I am guessing the beach houses were usually purchased and rented with a goal of “free” family vacations being paid for (along with mortgages) by rental income.  

That would allow you to put down less knowing you have that income coming in.Otherwise, is it possible to consider moving somewhere more affordable so you can reach that financial freedom you want? 

Not going to kill it on the rental income, but if you sell it subject to, there is a lot of equity.

Examples:44109 (median home price went from roughly 50k to 125k in 8 years)https://www.zillow.com/home-values/77009/cleveland-oh-44109/ 44102 (median home price went from roughly 30k to 120k in 8 years)https://www.zillow.com/home-values/77002/cleveland-oh-44102/ 44106 (median home price went from roughly 100k to 200k in 8 years)https://www.zillow.com/home-values/77006/cleveland-oh-44106/ It has the highest rents on average in all of Ohio for major cities and the median income is not even in the top 3.

Do you have W-2 Income, 20% down, reserves, and a decent credit score?

Once that extra rental started generating income, he realized the higher interest rate was just a temporary hiccup on the way to bigger returns.In your case, maybe look at a structure that keeps your best cash-flow property on a lighter refi (say 50% or 60% LTV) while you go a bit heavier on the one that’s not producing as much right now.

So what's 17% "passive" income look like?

We aim to bring buildings and properties back to their heyday, at the same time providing affordable and middle income rental housing.

Awesome on the retirement.