As Greg mentioned above, the appreciation and principal paydown is most likely more than the "loss" of $600 per month that you are paying in. 

Even if the blended rate is higher than a cashout refi in the beginning, you can pay down the principal on the 2nd with your excess income while keeping the 1st mortgage in place as is.

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

I have not been able to detect a patternAdditional recent changes include:  An agent can no longer collect a commission if they are a principal in the transaction. 

@Emma Hustiswell, they're separate - you'd negotiate the price and terms with the seller, and now that's your mortgage payment (principal and interest, or P&I)then, you plug that mortgage payment in, as an expenseso, use a mortgage calculator first to generate the monthly payment, based on the seller financing termshope this helps

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

So I might cashflow a little bit but big picture I have principal paydown over $600/month which will grow with that low interest rate.

Not knowing more details @Peter Woerner I would hope just for ballpark figures that your PI (principal and interest) are not much more than $950 with rent being $1900 if all other things are average.I like your long-term views.

I'm considering trying to pay down this mortgage faster since the interest rate is a lot higher than I'd like it to be, and if interest rates drop and I'm able to refinance in a couple years, it would be nice to have even less of the principal to refinance on.

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).