From my understanding, it might be more advantageous to refinance as a rental property at a lower LTV with income from two units, rather than as owner-occupied at a higher LTV with only one rental income considered.

Single-family homes offer higher cash flow, lower maintenance, and potential equity growth, but may have less privacy and slower unit growth.Good luck!

As another poster mentioned rates are lower than they've been in the previous 18+ months but unless some very surprising economic data comes out between now and when you did your refi it seems unlikely that rates are going up in the short term and there is at least a decent chance that rates drop a little more before then. 

And, even then, hitting your rate target would still be extremely challenging unless you were paying points up front, in which case it would probably make more sense to just try to put in a bigger down payment (or pay down the balance if refi) instead and get better terms naturally offered at the lower LTV.

For example, California has an $800 minimum franchise tax, while other states have lower fees or no franchise tax at all.

Typically, the adjustments I see on appraisals for basements are more flat rate adjustments. 10k is usually the number I've seen.What stinks is that there are a couple of model types that have below grade space where the builder, I'm sure, was trying to lower the taxes by having it below grade so the county wouldn't count that space in the assessment.

In the second you have two tenants with 3600/mo rents and lower costs, if one moves you still have 50% revenue coming in diversified across two properties.

As you suggest lowering down payment to buy more properties is one way, although the downside is greater risk in event of down cycle and more time to manage required.  

If you are willing to entertain areas outside Gainesville, you should look into areas like South Fulton, Forest Park ( lots of lower priced inventory) Jonesboro, and College Park to name a few.

I am confused, how there are options available today that does not comply with city rules (ceiling lower than 7ft)?