If your goal is growth, a refi now might make most sense, but only you can make that decision.I'll also second what @Jaycee Greene mentioned that most lenders won't go to 80% LTV on a cash out refinance. 

Hey @Trey Holloway, there are products out there that fit the 10% down model, but you will have to hunt for one.I don't agree with @Jaycee Greene that banks don't finance STRs.

I worry about a renter with a good rental history being to cheap to put anything in but his grandmas avocado green range, cause it still "works".Not providing appliances in my area would also be a bad plan causing extended vacancies.

Quote from @Jaycee Greene: Hey @John Tomassacci!

Not sure if anyone is aware of this, but Marco's partner and CFO, Ronald Fossum, was charged with fraud by the SEC fairly recently and barred from participating in any type of similar activity.

The Fair Housing Act doesn't bar landlords from discriminating based on Section 8, but some states and municipalities do! 

For example, I've had clients walk into homes with vibrant orange kitchens or neon green bathrooms and instantly feel overwhelmed.

I 2nd @Jonathan Greene's question: why Illinois? 

Plus the bar tends to be much lower, so it is much easier to stand out.

If you listen to David Greene, he's hearing more and more stories about syndications struggling to keep up with their promises and a lot of investors are losing money, or pouring more money into the syndication to try and save their original money.