The biggest key to you doing a refinance will be to target your monthly savings. 

I would consdier where your target demographic is looking.

But, as tou sharpen your analytical skills, and quantify the parameters of your search, you’ll be able to better target a doable deal.  

THAT is the ready target market.

Keep the majority of your money in your accounts $1.5M liquid reserves is a ton of cash so let it earn you interest.Use the Banks money to lend on a multifamily use a Fannie Mae loan its only 5% down but you can put more down to meet your target monthly payment.

In addition, targeted searches for "apartments 77008" and "greater heights apartments" have lower competition which provides a great opportunity for organic and lower cost of acquisition.Household Composition: 77008 shows balanced demand for both family-oriented housing and non-family units, promoting investments in single-family homes and high-quality apartments. 77063 indicates higher demand for rental units and smaller homes, focusing on apartments and affordable housing options.Despite higher entry costs and a lower percentage of renter-occupied units, 77008 appears to offer better prospects for appreciation and lower vacancy rates, making it a more suitable choice for investment.Greater Heights OverviewThe Greater Heights area (77008), often referred to as "The Heights," is renowned for its prime location offering a blend of amenities, top-rated schools, and abundant job opportunities.

South Memphis is a target for industrial plants and its residents have increased cancer risks as a result (https://www.southernenvironment.org/press-release/sterilizat...).

Target "built as" mulit family.

I personally am in a college town and my target audience tends to be single travelers, and or couple(s) traveling to visit campus or visit their student at school.. so for me in my market the 1 bedroom / studio units are the best ROI in terms of occupancy and revenue per sqft, I believe. 3) I’d open up a convo with a few local hosts and see what their experiences have been and chat with them about their journey.

My primary target area is Champaign, IL.