Thank your tenant for making you aware of a major problem and take a piece out of your manager's behind for not knowing about it and/or letting you know of the problem sooner. 

At some point, one year or two, you'll have enough of the debt paid down for it to not be so onerous.  

Not sure where to start but needs to happen sooner.

I do like your buy & hold strategy, but unless you really enjoy driving to tenants to collect rent every week, you should consider requiring your tenants to sign up for automatic withdrawal from a checking or savings account.Collecting rents in cash creates the opportunity for payment disputes, not to mention being a security risk and a huge inconvenience for you.If you're goal is to build a serious portfolio of properties, you'll need to resolve the rent payment issue sooner or later.

Alex,First off, sorry no one has replied sooner!

I plan to live in one of the units and pay rent to myself to do a refinance sooner than later. 

You might want to think about your earlier post...........by next summer I see 300k then I may sell.I have a feeling it will reach 300k sooner than next summer.Here's my forecast for median SFR.Terry

@Alexander Felice  Can you clarify what you said earlier about not having to wait the 6 - 12 month seasoning period, if you want to refi sooner than that (as you indicated, under 9 weeks), by only taking cash out for what you had in the deal to begin with?

I am a newbie in all sense but if I can focus on trying to grasp this concept, I may have a chance at a real possibility like this sooner rather than later.Thank you all in advance who reply.Much respect,Dan Nieves

I wish I would have started sooner but better late than never.