@Kevin Hintz It's property dependent, obviously, but last year, I sold one a street back from the beach that they're cash flowing.

Thanks for the feedback; some quick stats: 9 doors across 4 states, about 50% LTV ratio with a Net Income of about 17% and cash on cash of about 3%.....in fairness those numbers include some overall business expenses not tied directly to one specific property.

Sadly, it seems that cash flow on long term rentals with 20% down just does not exist in most desirable locations.

Cap Rate, Cash On Cash Return, then IRR. 

Just wanted to mention that the cash out refinance funds are not tax free forever.

I think there's a path to refinance that would flip me into positive cash flow, but I'm coming up short on ideas. 

Now some other investors may believe they can boost your revenue quite a bit but they don't want to pay for that projected boost. 

This negative position can consume years of cash flow to recover.

Would a cash out refi be under commercial terms since the property(s) are under LLC?

If people want an area to build with understanding day 1 may not cash flow but in 10 years you will be in a really good spot the area I believe is perfect for that.