In reality this strategy still works, but we are having to leave more of our own money in the deal because prices are high and/or rent won’t justify maxing the cash out refinance because interest rate is high.

This would allow you to maximize tax deductions at ordinary tax rates.

Is it worth to refi at current rates?

The experience was really bad as I was getting 1-2 year old leads to cold call that I knew had a 0% success rate and I do much better generating leads organically on my own.

Life is on easy street when rates are 2% or I.O. 

Interest rates are not coming down anytime soon.  

I had a “lender” tell me he’d give me a personal loan with a fixed 4% rate on a 30 year term at whatever amount I wanted because he would like to “build a relationship” with me. 

Most times landlords don't have data or cannot adequately factor in vacancy time or turnover rate.

Just not seeing a good use case for FHA these days other than the lower interest rate.  

Assume my marginal income tax bracket is very high, and mortgage rate is 5.25%.