Much better end product for sure.

Refinance should not be appear on same closing statement as sale. 

Every market has opportunity in the right places with the right deals.1-4 units follow the market appreciation through sales comps. 5+ units you start getting into forced appreciation through NOI approach. 

Not to mention agent fees, staging, and short-term gains tax from the sale.

@Travis AndresI use this equation to back into my maximum allowable offer (MAO)ARV - Rehab Costs - Holding Costs - Purchase & Sale Costs - Desired Profit as a percentage of ARV = MAO

., for both rentals and sales prices. 

For example, one of my clients is selling his rental home this year because its the last year he can still avoid capital gains on the home as it will be the last year he still qualifies for the 121 Home Sale Exclusion. 

There are still pockets in those areas but if you screen and give a good product you can attract great tenants. 

I'm curious about your comment that taxes do not reassess on sale.

After expressing my shock at the sale, I received some wisdom from our broker who was a second generation real estate guy.