I would suggest exploring a cash out fixed rate HELOC or fixed second.

@Damein White some great points by others concerning increases in rental rates and/or lowering of energy bills than a guaranteed increase in resale price.

As a lender, that is a much safer business decision than offering you a 5% interest rate mortgage, with zero equity.

I have only $45k left on the loan and can scrap the funds together to pay it, however, I wish not since the loan is at 3%, and I can use that $45k for other properties to not pay as much of the 7% interest rate loan I would need.2.)

This was 1982 and interest rates were approaching 18%.

However, there are pros and cons to this approach:Pros:Streamlined Operations: Property managers can integrate their systems more efficiently, leading to potentially better management and guest experiences.Experience and Optimization: They might have established profiles with good ratings and reviews, which can help attract more bookings.Cons:Loss of Control: If you stop working with the property manager, you could lose access to the listing and the reviews associated with it.Dependency: Your business becomes more reliant on the property manager, which could be problematic if the relationship sours or if their service quality declines.As an experienced STR manager, you're already familiar with many aspects of managing rentals.

Your landlord isn't going to pay any after hours, or weekend repair rates, and so you are most likely going to have to pay for those out of your own pocket, even though it's technically not your responsibility. 

He is more likely going to go back to school for a master's and/or find a fulfilling career, but we have no idea what that will look like or how much money he will make. 

Hi Nicholas, thanks for the answer and let me provide more details :) The offer is to invest into new construction with 20%-30% down payment 0% interest rate loan till the end of the construction.

Obviously I want the lowest interest rate possible but the way I'm looking at it is that it doesn't make much difference (from a tax standpoint) if the interest rate on that 2nd mortgage is 6% or 9% since the mortgage interest is deductible.