You might add the weighted interest you are currently paying, to see if you actually save money by refinancing your primary.For your 1st investment property, if you want to do a cash out Refinance on a DSCR type loan, you will need to get a minimum loan of $70,000, at 6.6%, you would need to have the property rented for a minimum of $900/mo, assuming taxes are about $2k/year, and Insurance is $750/yr. 

These areas generally have steady rent growth but not huge jumps.

I would like to increase the rent for my section 8 tenant.

I have enough in savings to pay for it but I keep asking myself should i just sell it and get it off my plate and lose the low interest rate or bite the bullet and do a big rehab and continue renting it out.

I was told by the realtor that 750-800 per bedroom per month is the prior and expected rent.

Purchase price: $119,000 Cash invested: $200,000 This is maybe a new Category: BRRRRSR Buy Renovate, Rent, Refinance, Repeat, Sell, Repeat.

Purchase price: $119,000 Cash invested: $200,000 This is maybe a new Category: BRRRRSR Buy Renovate, Rent, Refinance, Repeat, Sell, Repeat.

In this area, people usually rent for 1-12 months, and the rent is 30-50% higher than unfurnished LTR.

I believe the time to purchase a rent ready property and have decent cash flow on day 1 is past, at least in the near term.  

Hopefully you did not pay too much for the dirt. 1 acre is optimal these days because of desired double to triple drive thru for QSR.It can become a problem because if they make the building smaller you get less rent but they do more sales.Example a QSR used to be 3,000 to 4,000 sq ft but now instead wants double drive thru's as not many go inside for fast food like pre-covid.If you get 1,000 a foot less at 30 a foot you just lost 30k NOI and now at 5 cap example paying all cash NNN once developed you have lost 600k value.It can fine as long as you do not overpay for the land.