I bought my first property with JWB a few years ago and have no complaints, they are a top notch organization.

Location - Jacksonville, FL (unfortunately, no basements!)

They give 3 three year forbearances-1 for if one did not find employment or underemployment in the job they were expecting, another 1 for similar financial hardship if their salary is under a certain threshold, and another 3 years for any no particular reason if requested.

Question for you, @Brandon Turner and no snark is meant.

My husband has become extremely stressed and disheartened by the situation, to the point where he no longer wants to work with this partner or on the property.The property is divided into two units: the main unit is nearly complete, but the mother-in-law unit is still under construction.

No deals are advertised as great deals way below market.

I am 16 years old and started reading financial books (Rich Dad, Poor Dad, Cashflow Quadrant, etc.) at 15. have 2 index funds set up (one for retirement) and am generally pretty far ahead. I came across rental proper...

No I’m in Southern Cali and looking into Cleveland market.

The security deposit is paid by the tenant.  

So incurring the fewest expenses is the cheapest exit plan.There is no tax advantage to refinancing the property first - in fact, the refi will often force the taxing authority to reassess the value of the property - which would likely remove any tax grandfathering you may have - raising your taxes.There is no advantage to doing a two step process like you mention.Randy