You have a good rate compared to current rates.

so every step is tougher.2. you don't really compare the interest rate when purchased and the interest rate when refinancing - that is apples and oranges. 

Consider a market that you visit often, have family in, went to college at, spent time in the past.You will have a better sense of what the good / bad parts of town are compared to a city you never visited.Best of Luck!

It took more time and back and forth communication than was needed, and compared poorly with other refinancings we have gone through.

I have one I have drafted up but would love to compare against others.What are some items you always included in your MTR rental agreements?

Raleigh/Cary is definitely competitive..it's a booming market, but your $30K in cash gives you some solid options, especially for a BRRRR strategy.If you're looking for slightly lower-cost entry points, here are a few markets to consider:Greensboro, NC: Staying within your home state, Greensboro offers a more affordable market compared to Raleigh.

Commercial properties can be lucrative, but the financing/underwriting required from lenders is generally more "conservative" relative to residential and usually have higher interest rates (unless you have a "rock star", long-term commercial tenant in place) and generally require more equity from the borrower compared to residential.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

You could also get a couple different agents in the area to get you good comps on what to sell it for and compare on what they say the out price can be. 

Chicago has such a great investing community compared to most places in the US I have visited!