A DSCR refinance can also allow you to take some cash out if you want to use it to put down on another investment property and when you close simply close in an LLC.  

If you were able to increase the value of the property significantly after the rehab, then you could bring the deal to a community bank  to refinance and take the hard money lender out.You keep all the equity and don’t have to file a partnership return for your annual tax return, which can be costly.  

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

If I had just bought this property and could force some appreciation, I could refinance and hopefully extract that equity within a year, for example--but since this house is paid off, refinancing would introduce a new mortgage payment.What are the options here?

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

However, some investors are fine with this strategy if they prefer to minimize their upfront investment and plan to refinance in a few years, especially with potential interest rate cuts from the Fed this year.At the end of the day, it’s all about investing in a growing market, selecting a solid neighborhood, and building a strong team to support you.

DSCR lenders are going to want to verify you are not living in the property when you start the refinance.

My experience has always been better with a local lender.With that said, I am reaching out to David Greene's The One Brokerage about a refinance.

There will not be one PM covering all the places you mention in your post, so maybe refine your search a little, and then you can start interviewing.