That way, you can or choose not, to make a change to the original note.  

Start by leveraging your skills to identify undervalued properties, perform cost-efficient renovations, and build sweat equity.

Investors typically want to stay within the original budget.The only way to do this is to stick to the plan and avoid COs!

I paid about $1500 in closing costs between title, appraisal, etc, but the original loan was wiped out in favor of a new lower rate. 

I am from North Carolina originally and looking to buy our next property in eastern Tennessee.

Glad to see there are still some original voices on here. 

@Nicholas Dillon If you sell a property and perform a 1031 exchange but do not reinvest all the proceeds, the leftover portion (called "boot") is subject to taxation.

Why do you say its bad for the original owner long term?

Say my original loan was $500K, my cost basis with improvements is $1M and I cash out refinance with a $1M loan (can I include the interest of the new loan into cost basis since it’s reimbursing me my cost basis)?

I found similar patterns between all 5 companies: namely, they had taken on too many units, were over-charging me for things I didn't need, and weren't handling issues correctly (they would send out vendors who didn't know what they were doing, mis-diagnose issues etc.)No disrespect to the PMs on this chain or BP in general, but any third-party manager won't perform exactly the way you would like them to simply because of the constraints they are faced with as far as having so many units and owners to keep tabs on.