To leverage the equity for financing my next deal, a second mortgage seems like a more cost-effective option.

Sometimes, buying an existing property can be more cost-effective and less time-consuming and maybe require slightly less permits, etc. 

Propstream - Data creation + stackingDeal Machine - Driving for DollarsOpen Letter Marketing - Mail ProviderUsing these 3 platforms, you will be able to create lists, research properties, and market to them effectively.

@Anthony Finelli check your mortgage paperwork for the Truth-In-Lending form to find your APR.APR is your effective interest rate including interest, MIP and closing costs.If you can refinance the rental at a cheaper rate than the APR, then you should!

I would need to consult tax consultant for this however I expect to reduce my effective costs by ~$1,495/month (based on a 32% tax bracket).2.

I am not sure if it is more effective. 

Generally larger commercial properties and shopping centers are easier to classify with hard and fast rules, but to the points above the residential areas really move very quickly and have way more nuance than most people care to admit.zip codes are generally way too large for my liking at least in my market to provide any kind of insights other than macro level economics but even then highways or rivers that cut through a zip code can end up with totally different trade areas.we can get pretty granular with cellphone data and with grocery center data to understand the trade areas and their true boundaries, but that kind of data pull is generally only cost effective for investors doing larger scale projects or developments, and honestly we still just end up getting on the ground and feeling it out, so I generally tell people that the money is better spent on a plane ticket and weekend trip in the area you are looking rather than any kind of "trade area" level data studies.and generally B class in 1 area means something different than another. 

Service disruptions can understandably lead to frustration.From my perspective in the self-directed IRA industry, effective communication and responsiveness during transitions are crucial to maintaining client trust.

@David Dachtera, I did the same exercise in a COBOL class ;)

I don't believe "waiting it out" is an effective strategy.