Normal mortgage rates are in the high 6's now, for a personal residence, and higher for an investment property. 

Your existing low interest rate mortgage is an asset that you likely won't get again.To Your Success!

Would real estate prices in certain regions rise rapidly due to demand from both local and international buyers? 

Should I wait for Spring for greater inventory, or for lower rates to see if cashflow improves?

I would say anyone who has done 5 flips is experienced and that success rate should be closer to 90% and up.

What about rate and term refinancing?

Building a rental portfolio that replaces your income takes years and a lot of effort, this is especially true in our high price high interest rate market.You need to have at least a 10 year vision when buying real estate.

For a cash out refi, you are generally limited to 75% LTV and rates right now are in the mid 7s for good credit and a DSCR over 1.0. 

Keep in mind a HELOC rate will be much higher because of the CLTV and risk.

Increase the occupancy rate to 80% or higher over the next 12 monthsto increase the value.