It is handled more like a traditional mortgage at closing through title.

It’s looking like this will cash flow neg just with est mortgage payments plus insurance and taxes of $1100ish (after renovation), property management of $120.

In-House seems cheaper but more of a hassle and time consuming. 

Nonetheless, I agree... with your mortgage rate being so low, it seems like it makes sense to access the equity via other methods beyond refinancing. 

Quote from @Amir Rahmani: Either laminate or vinyl flooring would be a good choice. since it's cheaper I’m not a fan of carpet at all, especially for rental properties.Thank you for your comments, Amir! 

Another investor in our mortgage fund wanted to visit every borrower and discuss their personal financial situation with them.  

Quote from @Sonja Revells: @Chris Seveney primarily Padsplits  I would speak to a few lenders first before going through all these hoops, as I started to do this then when talking to banks they were basically telling me either get a secured mortgage as they will not lend to a real estate company on unsecured credit/debt.

I was pre-approved for a conventional mortgage with a 3 % down payment 2.75 Interest Rate.

Banks foreclose on properties when owners fail to pay their mortgages.

You are sitting on a big unrealized gain with that mortgage and if you prepay it you’re paying them back at par.