Most typical is 6 months before you can go off of appraised value and not purchase price. some lenders will go shorter, if you can document some sort of improvements to the property, but this is not typical. i would say on the refinance, it would likely be necessary to wait at least 6 months in order to tap into that equity, and i would see where the rates are at that time before determining how to proceed forward. at this pace, it could be significantly higher than you're currently paying, chopping your cash-flow to a point you no longer feel comfortable. also, consider if you have a prepayment penalty on this existing loan. 

Would you rather stay in Brooklyn or are you open to a change of pace down South?

My final advise would be to go at what pace feels best for you.

The really nice thing about this strategy is that you control the pace. 

Sales paces and buyer traffic are declining, but they are declining off record paces that were not sustainable,” McCutcheon says.

Any location where rents do not keep pace with inflation is a declining market and will not provide the dependable passive income you want.Jobs - Your rental property is no better than the jobs around it.

Don't go west of Pace Blvd and you should be good 

I own a multi-family unit near Mid-Town  and had some challenges early on with tenants but in the last 2 years I have adjusted my process with each room being rented on average 8 months per person; along with only marginal changes for utilities and fixed internet and cable cost no matter how much they use those services.With rents rising at the pace they are now and consistent low inventory this will be more of an option for qualified renters in the future. 

I've never been to a REI meetup before, but have been to software developer meetups and the pace is usually, have a few snacks and then someone talks for 20-30 minutes about some stuff they are working on, and then general networking for about 30 - 40 minutes.  

You can decide who to give rent increases to and when, I'd do it in steps, so if I wouldn't want multiple vacancies, i'd pace them like one every 2 months.