If I am going to hold and rent, 3 beds in our market get about $300 more per unit, and are desirable in there aren't enough of them.If you're gonna hold and refi, I would make it a 3 bed.I may be just looking at it from a multifamily perspective.Let me know what you end up doing.

It also may be a question of which format is more desirable for the market and associated demographics.  

Trying to time the market is a fool's errand and besides you might not like what is on the market three years from now. if something matches your needs and desires perfectly  and you're ready to go - go. 

If it is a refinance, we would look to pay off any current mortgages, finance the closing costs, get some cash-out if desired, and fund the rehab. 

It is worth mentioning that my journey into real estate commenced without any formal education in the field; rather, I relied predominantly on extensive research and avidly consumed the invaluable insights shared through the Biggerpockets podcast.With each venture, my interest in real estate investment continues to grow, fostering a profound desire to acquire more properties.

My desire is to find some AirBNB properties in my area so friends and family have somewhere to go when they visit, and I can rent them out when family isn't around.

Some of the streets are less desirable because of the slope of the road/sidewalk and all the locals know you can't walk or drive on that street in the winter....something you don't know as a out of town investor.  

Weighted toward cashflow but would not say no to an slightly below market value strong appreciation play.

GREAT agents, lenders, contractors, wholesalers, etc. are worth their weight in gold.

Make sure with a blanket mortgage that you're able to sell off a property if you desire.