When considering refinancing, also factor in the closing costs of the new mortgage to determine if it actually helps you.

Insurance is just an expense to factor into your underwriting just like property taxes.

I still think this is just like factoring accounts receivable .

The house will need a new fence soon, so I'll have to factor that into the scenario.I'm not sure which choice is the best option for me.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

If your cheaper but I have to worry about utilities that I have to also possibly set up that could be as high as $1000 a month, that definitely factors into my decision.Thanks for your thoughts, Brian.

They have a high hassle factor and he sold most of them.  

Maintenance costs are a huge factor in the profitability, or not of any investment property. 

It's really hard to predict where regulation will go and it is indeed one of the risk factors for all investments.

It depends on a lot of factors; primarily the local jurisdiction rules that may limit lease changes (in Portland/Oregon rent, security deposit, screening fees, an no-cause evictions are heavily regulated).