Focus on how to juice cash flow if possible (rent by the room, separating spaces, etc.) or decreasing expenses (assuming a loan, looking at new build incentives, aggressive offers w/ rate buy downs that work for you, etc.) 

If you are looking at value-add assets, quickly look for market rents in the submarket and current rents, if current rents are within $100 of market rents, there is not enough juice in the deal to make it worth while3.

@Evan Bell - I personally don't trust any 1-800 providers haha.

Remember, that it costs money to refi...if its a small amount of juice to squeeze, I would just run your numbers to take a look at what makes sense for you and your journey. 

Here's a fundamental explanation to get your juices flowing:Assume a house costs $200,000 and rents for $1,500.

Here's a fundamental explanation to get your juices flowing:Assume a house costs $200,000 and rents for $1,500.

Is the juice worth the squeeze? 

I was working with someone a few years ago who was flipping a house and trying to sell it for topof the market type numbers, he ended up nearly going belly up and never did any more flips after that experience.

.: @K S. here is Nike:Return on Assets   9.89%Return on Equity 36.38% To be fair if I could use Chinese slave labor, turn a blind eye to forced sterilization, and organ harvesting via the Uygur population, then turnaround to exploit, fund and exacerbate the racial divide in the US for marketing purposes and my bottomline, I could certainly juice my ROE.  

Of course you could put it a guaranteed bank cd and make over $300k so make sure the juice is worth the squeeze.