This is obviously much better than $1,400 per month.On top of that, you will now get 2x the depreciation write-off so your taxes should go down.On top of that, you will now get 2x the appreciation when real estate price go up.On top of that, your tenants are helping you pay down the loan, initially at about $100/mo for both properties, which gradually gets better and better.On top of that, you now have more units so if one or two goes vacant, you have more renters covering the losses of the vacant units.If you want to keep these properties, I would do a cash-out refi and go buy more rental real estate.

You pay for what you get remember LOCATION , LOCATION! 

While they mostly aren't lying, they leave out a lot of reality.Why would a government funded program like S8 pay MORE than market rents?

Please see the rough numbers below :Tear down house price 350k,Construction cost 165 sqft * 2 build=627k too much for the land unless your exit is 3 million. don't reinvent the wheel. no single family home builder is paying 300k for land. that's miami florida prices where I live. we buy land 50k and under in Columbus Ohio. keep land at less than 10% of after built value.

In effect, you will end up paying tax on your refi cash later on, when you sell the property.

But somebody could use a credit card fund the immediate need and then pay it back with the policy loan fairly quickly.

That is online with what we’ve been paying when we were able to find help.

It's debt you'd still have to pay back, but at least you will not touch one of those two amazing interest rates. 

Based on your current assumptions, you would be paying $1,229 per month out of pocket, leading to negative cash flow.If you’re house hacking and living in the property, it might still make sense because you're paying for housing anyway.

If they don't pay rent in full, evict them.