I'm not opposed to subject to, but my fear is whoever I am taking over the existing mortgage from will not continue making the payments.You make the payments.

A cash-out refinance would mean taking on an entirely new mortgage, which may not be necessary at this time.

The mortgage interest rates are more favorable and so are the terms (no prepayment penalty, as little as 3% down payment for a first time homebuyer, etc). 

(If we see mortgage rates below 5% again, I might reconsider). 

SECTION 8 ANALYSISSection 8 Rent permitted            $1785.30Subtract Utility Allowance             - 468.00    Actual Rent Charged               $1317.30Subtract Mortgage                         - 500.00Subtract Prop Mgmt Fee               - 131.73Subtract Taxes (20%)                     - 263.46Subtract 10% Vacancy                   - 131.73Subtract 10% Cap Ex                      - 131.73            CASHFLOW TO US             $ 158.65STANDARD LEASE ANALYSISMonthly rent (asking amt

Mortgage surveys have a margin of error of up to a foot if I recall.

This can be challenging when trying to purchase a condo with a mortgage.

The standing plan is to put in mini splits in each unit once the existing furnace finally dies.  

I listed it for a month, then decided that cashflow would be strong with the current mortgage.

You'll only be able to cash out a certain percentage of that existing equity.