Usually you try to the do the refinance after you purchase the replacement property.

Do they have more than 1 fund?

I am looking to move as early as November of this year to get a second property closer to Washington DC (~ 1 hour drive). 

You can usually find some events by doing a simple google search.What are you looking to achieve through real estate?

@Aaron Gallington- thanks ...if you dont need to complete the refinance now - I would wait for a little bit ....you might get fully approved for the new loan with a lender to make sure you are able to get the loan but  hold off on locking a rate and completing the loan until rates drop a bit more ...if you are able to obtain conv financing - go this route as  75% ltv should be available and  rates / fees  should be much better than a  DSCR program - thanks 

Rate is reasonable at first glance but yes rates are moving down and should continue to shop, get quoted, can be major changes day over day10% Down DSCR doesn't exist and has never existed to my knowledge so I wouldn't count on that15% down does exist and is rare, however as others have noted, usually it doesn't actually work since the restrictions, such as a high DSCR ratio or LTR only rent qualification (and high rate environment) never let the numbers work however as rates continue to fall we may finally be able to see some 85% LTV DSCR Deals actually pencil again!

Parts of Southern Orchards have gone from a D to an A area in less than 5 years.

However, if you work with a lender who specializes in DSCR loans, they may offer more favorable terms when structuring this kind of deal.Tapping Into Equity: Taking out the full $100k equity from your first property upfront could be more cost-effective, as you’ll only pay fees once rather than twice if you take out a second loan later.

This lender needs a 1.2 ratio to get that, so may need to put more than 20% down to be in the 6s with no points. 

You'll still leave a lot less than the 20% down payment needed for a regular investment property, but you should expect to leave some capital in the deal.