You are a high w2 earner, The house is worth 110k today, you are buying from your grandma for 60k in exchange for free rent for life, upside ARV of 200k.The costs of owning the house will help provide tax relief on your high w2 earnings, you are buying a great chunk of equity that will pay off in the future, and you and your grandma are doing each other solids. 

Most people are refinancing a BRRR because they are in short term debt (like 12 month hard money used for purchase +rehab financing) or own the property free and clear (they bought all cash) and would get a higher return on equity by leveraging the property and reinvesting the cash out proceeds of the loan to scale the portfolio. 

If you ever want to chat or need advice, feel free to reach out.

I know it’s not a super helpful comment for your end goal but my wife and I are looking for a second rental in Virginia Beach if you were interested in freeing up some funds for your Pittsburgh expansion.

He was happy to allow me to rent out nightly because it actually helps keep his property in better shape than a long term renter (having a cleaner in there every turnover, short stay guests always let you know when something isn't working, etc) but didn't want to hassle with worrying about a percentage of income/management, etc.

Feel free to share your personal experience around these kinds of folks.Thanks, and Merry Christmas!

Feel free to call me.

We deliver our properties free of both (noted as such in the lease) and then contractually make the tenant liable for prevention/termination. 

Feel free to inquire about their staff qualifications if it's a larger organization.2.

@Zach Howard feel free to add me on whatsapp