Don't worry about giving up the rate if you're looking to grow your portfolio.

Between 5 and 10 years is that could go either way depending on appreciation and rent growth. 

We are still doing a ton of fix and flip loans there and the numbers make sense for the banks.

How did you find this deal and how did you negotiate it?

A cash-out refi could allow you to set aside some funds as a reserve or at least pay down your debts so that your lines of credit (credit cards etc) can act as your emergency reserve when more bad things happen. 

Hi Thanks for the response and advice!

My name is Wes and I live about an hour north of Toronto, Ontario, Canada.Looking to get into real-estate investing with long term rentals, BRRR, and House hacking.Currently looking to also find other other local people to chat to about real-estate and how to get started in our currently price inflated Ontario market.Let me know if you're in my area!!

Hey @Dan WardWould love to give you some advice , those are my primary markets as an investor and agent helping others. 

For the son to qualify for the $250k exclusion, I believe he would most likely need to meet the ownership and use test, meaning he needs to own and live in the home as his primary residence for at least two of the last five years before the sale.

Does anyone know of a group or angel investors who would invest up to 5M to fund a luxury 6 room micro resort in central coast wine country in California?