If this is your primary residence and you have an extra bedroom (or can make an extra bedroom), AirBnb can be very lucrative. 

Once that extra rental started generating income, he realized the higher interest rate was just a temporary hiccup on the way to bigger returns.In your case, maybe look at a structure that keeps your best cash-flow property on a lighter refi (say 50% or 60% LTV) while you go a bit heavier on the one that’s not producing as much right now.

This extra year gives property owners more time to schedule inspections and make necessary repairs.Key Points:Applies to multifamily properties with three or more units.Covers balconies, decks, and elevated elements made of wood or similar materials.Inspections must be completed by licensed professionals and repeated every six years.Hazards identified must be repaired promptly.With the extension, now’s the time to plan ahead.

I also agree that RE appreciation is unlikely to match the last dozen years, but you never know.Where I am unsure we agree is that paying $450k to improve the cash flow ~$3k (your numbers but I expect my delta wold be similar meaning both my cash flow estimates would be worse than yours but both would be worse by the same amount not affecting the difference) makes sense especially if the cost of having the extra $450k is only 6% rate which is historically simple to beat via numerous investment options and hopefully no one is investing in RE for an expected of 6%.  

For your first guests, go the extra mile—leave a welcome note, provide thoughtful amenities, and ensure the place is spotless.After their stay, send a friendly message like, “Thanks for staying!

Simultaneous to that, negotiate price reductions to the greatest extent possible because of this extra cost you are incurring. 

At some point that market becomes saturated, pushing revenues down and the extra juice won't be worth the squeeze. 

I want to upgrade my house up a notch in the couple years and get a couple little extras like that.  

But it fits with the current portfolio I hold in that town and doesn't take much extra work for the returns I get.

Anyone extra cautious with these types of investments right now?