Is our primary residence and is a long term live in flip. $490k mortgage.

Hey Chris would love to visit.  100% of my business is helping clients in all 50 states with purchasing vacation homes/STR properties. 90% of my clients use the 10% down loan because the lower down payment requirement and rates/cost similar to a primary residence.

Tons of things can change a banks trajectory for what they do reupping a loan.Your loan balance is different now, the years left on primary lease are different.The bank might say to do a new loan you need DSCR of 1.25 now instead of 1.10 for example.

If your primary has a net $1M appreciation you’ll only pay $100k cap gains tax - that’s a lower alternative than what you propose.

Not sure if these are all investment properties or if you're including a primary or second home, but my suggestion would be a cash out refi of an investment property to pay off your debt, and a line of credit on your primary to have available for reserves if needed.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.I am also fully licensed for primary and secondary homes in Florida.We are all here to help you learn and grow.

Quote from @Donald Hatter: Pros:- Builders have many homes to sell at one time so it is easier to negotiate a better deal than with a home owner in the same neighborhood who is trying to sell their primary residence - Buyers bust out of deals all the time and builders don't like holding completed homes- Lower maintenance which leads to easier property management expenses.  

You’ll be able to access more equity in your primary vs a rental property, and the rate will be higher.

Additionally I don’t want to dip into my personal primary residence rainy day fund.

One as our primary and the other as the backup.