After the loan is drawndown I need to immediately start making monthly payments for the next 60 months.

If my crystal ball is correct, we are going to see a lot of these sub2 deals hit the fan in the next 36 months. 

Overall, you're spending $25k in extra costs and a monthly pmt that's $500 higher to keep $50k in your bank account. 

I found it researching online after many months.

@Daniel Amsalemhi. i see this thread is a couple months old. 

1.7 % of Loan Amount (Points) - $6,035underwriting fees - $1,400Are the above fees reasonable or not for refinancing a mortgage?

Hey Steve we put on 2 monthly forums in Scottsdale. 1 for fix/flippers and the other for STR investors, no sales pitches or courses just a market update and networking with other professionals and service providers!

Quote from @Alecia Loveless: Something is better than nothing, but I would offer more like $250 or 1/4 of a month's rent.

5k a month in passive income does not come quickly.

I have a client who wants to rent his home for 30 days or more, but not full year leases, just a few months at a time.