My wife and I are now at a stage in life where we’re looking to move from a condo rental in the city to a home in the suburbs.

@Alex PenaI recommend finding local meetups to attend. https://www.biggerpockets.com/forums/521I have found all of my best connections at local meetups.Ill be at the beers and deals meetup tonight!

The general rule of thumb on refinances is to do it if you can make back the transaction costs within 2 years.

What were the lot rents and how many lots were occupied?

However, we typically use the FHA-203k loan because it involves a renovation, which I highly recommend if you are looking to really boost your equity and have the cost of the renovation wrapped into your loan with a VERY LOW AMOUNT OUT OF POCKET.I like the FHA loan, but honestly, the Fannie May Home Style is an even better product at this point because you just have to bring a bit more cash to the table 5% vs. 3.5% (w/ FHA), but you have a bit more flexibility.  

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Non-payment of rent is always the path of least resistance to get someone out in a somewhat timely manner.

Ultimately, all the costs would be added to your basis in the property and depreciated when you place the property in service as a short term rental.

We invest in the same neighborhoods.

Cash out refi will be tough due to the price, not sure if there is a local bank you can reach out for the financing.