If that's the case, you should be able to rate/term refinance at ~75% LTV with a DSCR loan, and with some interest-only basis, your payment will go to ~$850 (based on ROUGH pricing TODAY).

This creates a market for both short-term and long-term rental properties.Affordable housing, Compared to cities like New York, Washington D.C., or Boston, Philadelphia offers relatively affordable rent, or section 8 tenants, especially those who are relocating from more expensive areas. 

We have a home that we are almost done remodeling that we would like to try the mid term strategy to increase our cash flow vs long term.

Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.

Actual cost takes into account depreciation so complete destruction of a property could leave you under water in terms of the amount paid for the loss.

My long term rentals are located in SC, also in a city, and they play a big role in the numbers.

For your first deal, it might be beneficial to try doing some of the simple work yourself so you know what goes into it.

Of the many strategies I've looked into, House-hacking and short-term rentals piqued my interests. 

In terms of the areas, you will be best served driving it.

Shorter term deals though, they will hold 2 to 3 years, sometimes less.