Hi @Jaycee GreeneThe renno is expected to take 6 months - 12 months (we have a very good team in place).

The property is currently tenant occupied on a month to month lease at $1150 per month.

Phoenix is awesome (Especially if you are looking at the 6 cooler months lol).

Right now I own a duplex, I live in one unit and rent the other for $1400 per month.

The property is currently tenant occupied on a month to month lease at $1150 per month. 

Well, free of charge.

So, if the total payment was  2500 you would only need to cover 1000 dollars a month with your income. 

As another poster mentioned rates are lower than they've been in the previous 18+ months but unless some very surprising economic data comes out between now and when you did your refi it seems unlikely that rates are going up in the short term and there is at least a decent chance that rates drop a little more before then. 

Quote from @Patrick Roberts: Angel oak and A&D mortgage are two of the bigger lenders that I know of who will do 2nd's on investment properties as of a few months ago.

Whereas I (and others) continually urge them to stop being lazy and do their own research....go on VRBO and ABNB and look at the competition. 1) What are they charging?