It takes 45 days or more to close with a 203(k) due to all the red tape and contractors and our seller kept threatening to back out of the deal and demanding extra money every time it delayed but we eventually did close and it was worth it. 

I would assume you spent extra money on this mirror so you could attract and keep a quality tennant and would hate to loose out and have to pay to have a vaccancy and find a new tennant.  

I would imagine that in your part of New Jersey, the extra income would be significant (maybe 12k per year?).

Personally, spending the extra money on a home warranty for rentals is a waste of money.

You might have a few dripping faucets and a toilet running occasionally costing you a few hundred extra per month.  

@Nate Bulkowski - If you go the route of 1031 and have have difficulties completing the 1031 exchange on the capital gain portion, consider opportunity zone investments.

Do I care about the extra interest that will not accumulate or do I care less because I can acquire another property and someone else is paying the interest?   

If you have extra money to give away, I guarantee I can find charities that are in greater need than your tenants.I also disagree with small increases over multiple years or even over a one-year period.

meet with a lender and go thru the formal pre approval steps to know for sure ..if the 15 yr fixed payments dont work for approval - fall back on using 30 yr payments ( and then just pay extra to payoff the loan quicker)  

Finding a good contractor was difficult. I