We owe $154k on the property and the interest rate is 4.25%, the monthly mortgage is $1050 with taxes and insurance.

You used to easily be able to do this with 2 unit properties, but with prices and rates today it's hard to make this work anymore, unfortunately.

I don't like it I have to be honest - I think part of the reason you're cashflowing is the low interest rate and relatively high downpayment.

However, you bring  a GREAT point which is the stocks wont keep like this. 

Your input and experience with a good contractor would be greatly appreciated.  9.

This is a great question. 

What about rate and term refinancing?

Renting out a room is a great way to get started, and I wouldn't get too settled into the "going rate" use that almost as a floor. 

Quote from @Corby Goade: Quote from @Timothy Franklin: @James Wise so you would rather pay higher interest rates to the bank?

McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.