Partner financed the original purchase price, we refinanced using a DSCR loan with no money down from my end.

**Refinancing vs.

HOWEVER, as soon as a property sells on the market (or is refinanced interestingly), the cap differential goes away, and all of a sudden you would see the taxable value of the property jump from $370,000 to $657,000 - more or less doubling the taxes on the new buyer.  

Tough pill to swallow because the rate I currently have vs what I would be refinancing into... so not sure it's the right move for me yet. 

Are there specific pros and cons I should consider when it comes to refinancing, forming an LLC, or even continuing with the rental given the negative cash flow?

I had a client who refinanced their home and then I helped him buy a new house about 5 minutes away.

They apparently do not have time to verify permits (under what criteria units were added or that the work was even done with a permit).To the OP, I fear your property will consistently appraise low when obtaining HELOC or refinancing and that a re-appraisal will not reflect what you are seeing of homes being appraised with an agreed upon negotiated selling price.I am not saying this is the way it should work. 

Hi Brian, I wouldn't worry too much about refinancing from FHA to Conventional for the sake of buying a house with another FHA loan.

Fully rented and refinanced Lessons learned?

So, if you use the refinanced funds from the higher-value California property to pay off the mortgage on a Texas or Utah rental, the interest on the new loan should still be deductible because the funds are being used for your rental business.