You will need to weigh in the costs of the refi and determine a break even point. 

How much cash do you got on the side?

For a fix and flip or fix to rent you would likely only need a 10-15% down payment + closing costs/financing costs.

I’m beginning my journey into real estate investing with the goal like many of you of generating passive income and discovering financial freedom without having to rely on a “day-job” for much longer, so I can travel more and spend more time with my young kids/family.

@Abel Eskinder your BP Profile is blank, so no idea if you still live in Ethiopia or where you currently live in the USA.Suggest you update your profile and add your goals, what help you need, etc.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

I’m needing a recommendation for a STR photographer in the Dallas area. 

.- 5 month permitting (Much longer than anticipated)- 160 days of vertical construction - The storms set us back on a few builds because it caused us to delay our septic instillation.

Turned out they were interested in selling but were needing the income for a couple years, so we negotiated a seller financed deal.

My goal is to find one that will allow me to automate this process as much as possible.