Since your properties have significant equity and low interest rates, you could consider refinancing just enough to maintain strong cash flow.House Hacking:Consider purchasing a duplex, triplex, or fourplex in San Diego.

Focus on what the rents will look like post-renovation with 4 units instead of 2, and have a clear game plan for refinancing to pull your capital back out. 

The real property investment can be repositioned if it proves disappointing in its original form; it can be refinanced or recapitalized if it has too much or too e pensive debt; inflation over time bales out many bad purchases, and finally the investors knowledge, experience and abilities can be leveraged to turn around a cash flow negative property.I’ll provide an exampleThree years ago we purchased a note from a bank secured by two auto repair facilities with a large amount of excess land.  

FHA allows the construction or renovation of an ADU on the property by refinancing into a 203k loan, but the property must remain your primary residence.This stuff is subject to change, lender specific, and subject to other factors.

Will ask lenders bout prepayment penalties and refinancing options as well.Alex

All being equal, I would take a 30, but sometimes the 15 is much much lower.In 2012 I refinanced every residential mortgage I could as rates dropped to the lowest in 50 years. 

I started with multifamily but price expectations have gotten out of control.Just refinanced my multi-tenant retail property and pulled out much more cash than I put in. 

It isn't refinancing to take out money that I have a problem with, it's "cross collateralization".

We are active in Spain and personally bit by bit getting into Portugal as well.Quick question: is refinancing possible in Portugal (BRRRR method)?

I live in a very desirably town in upstate NY, refinanced at a super low rate, so will keep the house as a rental.