This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

DSCR Loan (10% Down Possible)Debt-Service Coverage Ratio (DSCR) loans are based on the rental income, not your personal income.Some lenders allow 10% down, though 15-20% is more common.6.

I used my tenant income and w2 income to put towards the next phase of rehab.

This requires an income that allows you to maintain your standard of living throughout your life.

The intent of getting a sales agent license is to educate myself in Real Estate and create some additional income.

With the low rates and income you have it might not make sense to sell.

Absolutely, the passive income from owning rentals is great but I also love getting into big projects and seeing the transformation from start to finish@David Jesperson What city/market are you looking to buy and what type of properties are you looking for, SF, 2-4 MF, or 5+ MF?

When you sell a property that has been depreciated, the IRS requires you to "recapture" the depreciation deductions, taxing that portion of the gain at ordinary income tax rates.

Last year I started my education on rental income and came across Rent to Retirement.

Akron is a very blue city and are not very landlord friendly - source of income protections, etc...