If you didn’t think $6k was worth it you might find it’s under $5k.

In effect, you will end up paying tax on your refi cash later on, when you sell the property.

@Jordyn Ohs Assuming your heloc is re-advanceable and the rate is higher than your mortgage, I would suggest you pay your HELOC down as quickly as possible with any cash flow from the properties.

You can’t 1031 a flip.

What made you interested in investing in this type of deal?

I prefer new construction homes where an opportunity for a good deal presents itself How did you find this deal and how did you negotiate it?

It depends what basis you are filing under.

@Zongfu LiWhere are you trying to refinance (what state?)

You state that you have 20% - 25% equity position for safety, but you don't based on the information you gave. 

All mortgages contain a “due on sale clause” which states that the lender may, at its option accelerate (call note due) if a transfer of the property securing the note takes place.