Even if it is not a savings but close to a wash, I would still consider the refi because it would give me the ability to substantially increase the limits on my existing HELOC. 

Mine did too at first, but reality set in after a few months of washing dishes in the laundry sink, and having plastic hanging in the shower, her enthusiasm waned.I'm not suggesting you don't do it, just pointing out that the idea of it and the reality of it are not necessarily the same. 

The total debt service would be basically a wash with current NOI, and cash flow would be low even with the higher NOI, but it'd be 100% OPM.

Maybe it just needs to be washed with a vinyl rejuvenation cleaner versus painted.I would post a picture here on BP and get some opinions.

If you don’t account for this upfront and a washing machine goes up, then the roof needs redone in 4 years, or the garage door needs replaced- that will eat into any cash flow you have built up for x amount of months.

Chester Baldwin at thr Wash LL association has been a great help and no one knows this stuff better than him.

Get some ugly sfh fix them up, then sell off the house with the lowest ROI using a 1031 exchange and buy two more ugly homes...wash/rinse/repeat.But look at your market, what is great advice in one area is terrible advice in another.Have fun!

I have a Seller that wants to wash his hands with NC and move back to MS.

She let me know that the washer standpipe was overflowing some when she did wash.

Hi Adam, just one caution on the property management side: JP is the happy valley of renting right now...valuations and rent are at all time highs, most renters are solvent (half would love to buy there is just too little inventory) and the more transient tenants love the neighborhood too and have an unusual investment in its quality of life with the festivals, green space etc.