You can even look for police reports in that neighborhood.

So it is fine for us to just list the property under my husbands name on the Schedule E even though we both own it, and I manage it?

That claim can not be even remotely true.  

@Jay Hinrichs exactly the risk is even more than traditional development and the profit is actually less with more operational headaches.

This could push your rent up to $7,500 or even $8,000, which would make your cash flow positive.In summary, the refinance could give you a good return in the long run, but the negative cash flow in the first few years is a concern.

If it were me, I would like consider refinancing only 1 of the 2 properties now and considering the second later in 2025 or even early 2026 when rates potentially soften.

Quote from @Ruben Diaz: Good evening team!

Hardly anyone can prep properly, mask or dropcloth properly, cut in around trim and windows, get even coverage, etc. 

Even first-time flippers should be able to get these terms: Application/Credit Report/Upfront Fee: $0Appraisal Cost: $0Down payment: 10% of purchase price (= 90% LTV)Rehab funding: 100%Interest payments: Paid only on amount drawn (non-Dutch)Prepayment Penalty: $0Reserve Requirement: $0Max Funding: 80% ARVMax Funding 95% LTCClosing time: Measured in days, not weeksI hope this helps. 

Ask lots of questions, read as much as you can, and then ask even more questions.