@Brett Jurgens,With strong equity and a good tenant, you have a few options:Cash-Out Refinance: Offers lower, fixed rates for stable monthly payments and lets you keep the property while using equity to invest in another rental.HELOC: Provides flexible access to cash, though with typically higher, variable rates that can fluctuate over time.1031 Exchange: If you're open to selling, a 1031 exchange could defer taxes and allow you to trade up to a higher-value property or diversify into a different market.Each option has pros, so it really depends on whether you want to hold onto the current property or leverage its value for something new.

5-year prepay often has the sharpest pricing, but, 3-years can often be a nominal trade off or happy medium.

Quote from @Stuart Udis: 99.9% of investors who are chasing the 1% rule are solely focused on cash flow and spend no time whatsoever analyzing markets based on fundamentals.I agree, BUT 95% of investors aren't interested in analyzing markets as they invest local to where they live!

The only inspectors I recommend are ones who have a background in the trades themselves because they actually know their stuff, but some buyers have read somewhere that they shouldn’t trust their agent’s inspector recommendation and they hire somebody else who doesn’t have any real hands-on experience building anything.  

My basic assumption is I would be trading a certain level of cash flow for increased appreciation over a period of 10 years.

I've done Crypto, stocks, businesses, ecommerce, trading bots, ponzi schemes etc. 

Also  American association of private lenders is one trade group,Thanks for the response, Chris.

But I've learned a ton from this experience and believe it or not, wouldn't trade it for anything.

I'm still playing with the layout and trade-offs.

Once that phase is complete, I’d transition back into long-term holds.As for the cash-out refi, without at least doubling the rent, I’d be in a net-negative position each month, which doesn’t seem like a worthwhile trade-off.On the tenant side, I agree with your point about the business aspect—it’s something I’m working on coming to terms with.