Now, what do the numbers look like after Buying, Rehabbing, and Re-Financing?

If you can stomach a little bit more paperwork, you will generally get much better terms by individually refinancing each property.  3.

Paying it off and refinancing it to where I can get break even cashflow and using that money to purchase more properties is a great idea.  

Anyone know of any good local Banks that do refinances in the Detroit market for houses under 50k?

I have pulled cash after cash refinancing it every few years.  

As I understand it banks tend to look for 6 months of seasoning prior to refinancing.

If that's the case, then I guess I can only look to have the first house refinanced.  

If you are refinancing a new property (meaning you bought with cash or with hard money and are looking to refinance) then you would need an executed lease.  

Right now the most likely path appears to be finding a local portfolio lender to do the loans, or refinancing several properties together into a commercial loan to reduce the number of loans down below 4 and getting another conventional loan.

Once I have refinanced, does this mean that I can take out a new FHA loan because I no longer have an FHA loan open?