But that extra $7200/year will go a long way in paying down your loan faster, build up another downpayment fund, pay off other debt, etc. 

Wanted to both reduce our debt load and also take profits off the table. 

Hi everyone,This is my first time posting and I had a question regarding DSCR cash out refinancing:Are the DSCR loan amounts calculated strictly on the debt service ratio or does an appraisal come in to play? 

(I also had to come to CA for health reasons, so I am not sure if that is an exception)- If I use any of the above, can I use a portion of the money to pay off personal debt?

Its not a set price per unit or building but rather a percentage of income to debt.

Right now my debt is sitting at around 154k (8k outstanding interest payments). 

If I finance the rebuild then the 1031 exchange presents some challenges (I will need to land a property that cash flows or breakeven so that I can get the loan for my rebuild, or banks will count that debt against me).

Congrats - are you putting zero debt on the property? 

Your 3% rate likely helps you with cheap debt and without the need to chase high that normal rental rates.

My client is looking for one to consolidate some current debt and to finance solar.