When considering refinancing, also factor in the closing costs of the new mortgage to determine if it actually helps you.

My idea to achieve this is to convert the studio into a short-term rental.I’m trying to determine if I’m forcing this deal to work by relying on the short-term rental strategy or if it’s a reasonable approach given the numbers.

There could be some kind of buyout after five years or something like that, but if I was able to get a large chunk of my money out of the deal I would have no reason to sell it as it would simply be another cash flowing, appreciating property at which I could also vacation.

It will all depend on what your goals are.Ask them questions that will help you determine whether they have the value/knowledge that you'll need to get closer to your goals.

And then again sometimes its simply out of their control.. made a bad buy had some issues you were not aware of like the Guy talking about soil in Texas I learned that one the hard way not sure that's an issue with that property but its stuff like that..

What determines if it's a Class A  (b, c, etc.)?

The value of the property and how it’s distributed relative to ownership stakes will determine whether it counts as a taxable event, I believe(I’m not a CPA or attorney). 

That will be a determining factor for where it makes sense for you to purchase.Regarding waiting - bear in mind a lot of people were predicting rates in 2024 would be in 5% range or low 6s, which didn't turn out to be the case.

I own a commercial unit, and I’m trying to determine a fair rental rate for the space.

Now we're seeing investors pouring money into buying Class C rentals - but, many are getting burned.In our experience & opinion, the main determinant of property Class is not location or even property condition, those are #2 and #3.