If it were me, I would like consider refinancing only 1 of the 2 properties now and considering the second later in 2025 or even early 2026 when rates potentially soften.

There’s huge retal income potential if you nail that balance between improvements that wow tenants and improvements that merely look fancy but don’t justify higher rents.I’d also keep an eye on how your high end plan fits the local demand.

I have a pretty large emergency fund in place for those properties, but I wonder if that capital could be better employed elsewhere (potentially acquire another property).  

It saddens us when one of our partners did not realize the full potential of the profit they were seeking by investing in rental income properties.

My vision is to bring together motivated people to support one another and potentially form an LLC for group projects as we grow.If this is something you might be interested in, I’d love to chat more and see how we can help each other on our journeys.

I was wrong to fall in love with the potential of this development.

Since you purchased your primary recently and in Houston, I personally am bearish on your appreciation potential.

A second STR in a market with year-round cash flow potential might balance out your portfolio and give you more consistent income.

If this job popped up out of the blue, your intent was not to move within the 1st year, so you may be ok.If you are planning on building a portfolio of homes, it is safest to stick in your home for 12 months to reduce the appearance of potential fraud. 

I just wanted to share that resource and potentially de-stress Quest 401(k) holders.