I agree with the original poster. 

You purchased your property in 2017 with an expected rent amount of $1,549 on the original property evaluation. 

Depending on the lender (bank or alt. lender) you have to look at origination fees....points, doc prep, interest rate, frequency draws are allowed/min. draw amount allowed per request, interest payments vs. interest reserve & whether interest reserve is capitalized to fully understand the true cash requirements.

For example, in my state PA there is an inheritance tax and many TAX auction properties originate from people passing away and the heir(s) not taking control over the estate and paying those property taxes.

So you might as well be a head of the game do the cash out refinance buy the next 1-2 properties and simply refinance the original mortgage as a "rate and term" which carries a lower rate.

Also would charge points at origination and bump the rate up a point or twoReason being my guess is this borrower can it get conventional financing so they are a higher risk.

All of the smell was in the wood floors, original from 1928.

You sell when it fits with your original business plan (targeted NOI is reached, timeline is reached, etc.). 3.

they make money servicing not originating new loans. 

With the failures we endured in the past - we were able to take out original goal of $500-$600 per door and were able to double that with just 1 door.