By the time the PPP ends, you may have more favorable terms than taking a huge cost now. 

Why not make an interest return on this property right away, which I already am familiar with and favor, without having to find another property to re-invest the sale proceeds? 

If it's a long time owner I think that works in your favor for negotiating.

With the expectation of entering a rate-cutting cycle, there’s potential for more favorable refinancing options as rates decrease.- Valuation Improvement: Allowing time for property valuations to improve as interest rates drop.Budget ConsiderationsIt's crucial to budget adequately to navigate projects to a safe point, typically requiring an 18-24 month budget.

This is doing you no favors, and an absolute wrong way to approach it.Get an idea of what you're seeking, then research those cities yourself. 

This could be especially useful if you have high-cost debts to clear or other investment opportunities to fund.Cash-out Refinance:If current rates are favorable, or at least not excessively higher than your existing rate, and the cost of refinancing is justified by the equity taken out, this could be a smart play.

I really liked what I saw and from some basic research, the housing/tenant laws seem to favor the landlord (unlike NYC).

If this seller just renovated, hasn't owned it long and has a mortgage, your chances of obtaining favorable to you proper SF are low anyway.

Please share your thoughts:What are some of the most favorable terms you’ve negotiated with private lenders? 

What out of state markets do you find favorable?