Property Details: SFH 6 beds 2 Bath 2016 sqft - Rented by the room.Purchase: 340,000Amount Financed: 272,000Down Payment: 20% (68,000)Purchase Costs: 12,777Loan Type: 30 yearInterest Rate: 8.75%Rents: 3,300**********************Investment Returns - Year 1Cap Rate (purchase) 8%Cap Rate (Market Value) 7.1%COC 1.8%Return on Equity 1.3%Return on Investment 25.1%Internal Rate of Return 25.1%

When you say "deal" do you mean "cheap?" 

Once that term is up you have to renew at the current rate.

What I’m hoping to do is to pull some of that equity out to buy more, but a cash out refi on any property puts it into the negative cash flow situation since my current rates are mostly 5.5% or lower.

I have an opportunity to by a 6-unit property for $300K with a $240k Commercial loan and a Seller carry back of $60K at a 6% interest rate with a 5-year balloon. 

Most of the lenders I’ve had contact with have the 25% DP requirement, high rates, and high closing costs 

If you want to paint them, hire a pro and pay them a reasonable rate- it's usually at least $3K to do it right, or just leave them. 

Situation: I own an investment property townhome (not primary residence) that I still owe ~$195k on 30 year mortgage at 3.3% rate that originated at $230k back in 2020.

Also open to any creative ideas around loans with less than 7% rate for a 2nd property. (20% down)https://www.zillow.com/homedetails/4-Fifth-Avenue-York-ME-03...

I'm not sure if this could be a major factor for someone like me in choosing an area to invest, but the statistics suggest that Huntsville has a lower overall vacancy rate.