That would cut down on the amount of money you'd need out of pocket.

I also worry about putting in the new A/C AND someone backing in a truck and cutting the line and stealing it. 

The cash out refi increased my mortgage to $1,079.Cash Flow: Here are the current cash flow numbers:MonthlyAnnualNotesIncomeRental IncomeUnit #1 - 1/1$900.00Unit #2 - 1/1.5 +Loft$1,225.00SUBTOTAL$2,125.00$25,500.00ExpensesMortgage/Loan$686.18$8,234.16Taxes$313.25$3,759.00Insurance$62.50$750.00Vacancy$42.50$510.002% of rentRepairs$106.25$1,275.005% of rentCap Ex$150.00$1,800.00between $100 and $200 / monthWater / Sewer$158.33$1,900.00SewerGarbage$33.00$396.00Gas / Fuel$0.00$0.00Electricity$0.00$0.00HOA FeesSnow RemovalLawn Care / Maint.$0.00$0.00Property Management$127.50$1,530.006% of rentSUBTOTAL$1,679.51$20,154.16CASH FLOW$445.49$5,345.84* A couple of things to note on my cash flow numbers.

. $1,277 / month- House could rent for $1,300 to $1,400If cash out refi I could get $45k in hand and cut the payment in half.

How does cutting the supply of a wanted amenity result in a smaller demand?

This, in turn, increases supply and by its nature cuts down demand.

Later, when you’ve got say 4 houses or so, you can likely cut that down to 6 months rent x 3/4.

It's a bummer, but the quicker you move on, the quicker you can find a great tenant who actually pays their rent.Don't waste another minute on this tenant, cut them loose.

This worked for me on listed properties in areas where I was doing general, lipstick, and mid range flips.But to be crystal clear, there are no short cuts to estimating rehab costs completely accurately, you need a site visit and know how so don’t let anyone tell you that you can just use a price per SF, you will be off more times than on.

@Joseph your best bet is to cut expenses, and increase your savings-gap as much as humanly possible.