This is my first deal and its all very exciting, just dont want that to over ride the logic. 

This is my first deal and its all very exciting, just dont want that to over ride the logic.

Definitely make sure the numbers work for the refinance, but my gut instinct would be to hold onto that property and continue to ride the appreciation wave. 

Hi Jean,Stock it with fish and have fun fishing all summer.Plant wild rice and maybe Ducks will show up--beautiful creatures to watch, and some people hunt them.Build a dock and toss in a small row boat....for romantic evening rides and something for the kids to play with.[1]>>> Have it tested for chemicals...some of these ponds have a years of farm runoff in them--pesticides and manure--it would be a shame if it's toxic.[2]>>> See if the sides go straight down (like a farmer scraped it out for whatever reason) and it would be dangerous vs. like a beach.Good Luck!

Not always easy changing horses mid ride but might be needed. 

Welcome to the joy ride of investing. 

If you have any thoughts on this zipcode, please let me know.Ive never bought in that area but know a couple folks that live in that zipcode and ride bike through that area all the time.

We have a 41 unit apartment complex, and our insurance was about 12k per year for an ACV policy, but last year we were hit by a bad wind and hail storm which caused us to have to file a claim for the roofs and some AC units. 

When we closed, I hand delivered a pre-written letter to both of them detailing who I was, the rental rates the comps supported and gave them a choice to either break their lease early, sign an early renewal (their lease don't expire until 12/31) at a lower than market rate, or just ride out the rest of the lease and move in the dead of winter.

@Ben BeThe great thing about working in the NYC market is that we are normally compensated very well.Furthermore, the pro side of working a lot of hours is that normally our costs are 'low'.Most large companies in NYC provide dinner to employees and a ride home.This all allows for increased savings towards down payments on houses in low-cost markets.Best of luck!