This is even with a prop 13 benefit that results in a ~$3k/year savings.  

I would wait till next year, as assuming the tax law and your situation are the same, whatever the tax benefit you get this year, you would get next year also.

That way you are transforming what you are currently paying in rent into equity, and getting some experience investing.There are also tax benefits to this.

The cap rate wouldn't adjust the value would.

Hi Lorenz,A limited cash out refinance into two 30 year terms might benefit you, however make sure to consider closing costs with this type of transaction.

Stress that you won't be making any other adjustments to the unit, so if it's not good, then she is likely better off at another home.   

I’m not affiliated with the Real Estate Guys organization, I just enjoy their events and I have benefited tremendously from the education and network.1.Engage with people emotionally to get them to open up intellectuallyA potential investor might tell you “I’m looking for at least 10% cash on cash return and 18% IRR.”

According to the adjusters and others, this is probably a 1 year rehab to turnkey.

Industrial in Minneapolis and Chicago seems like 8% or so, by the time I adjust for location and uniqueness I\m in the 10 to 11% range. 

Are you saying that for example if I just threw that $115 extra toward the principle every month it would benefit me more?