The fact that homes are pricy does not make house hacking a better option because those have gone up as well and the rates are just high to get a loan on them.

Love or hate DR he exposes the reality of being a real estate speculator he was a house flipper who bought foreclosures. 

The general rule of thumb on refinances is to do it if you can make back the transaction costs within 2 years.

@Connor ThomasIf it’s going to cash flow negative have you considered just selling it even if you don’t make anything and you just bought yourself some free education?

.✅ Radon is a radioactive gas that is released from granite into the soil that is known to cause cancer, and can leach right into your home.✅ Any home built before 1980, likely has cast iron or clay sewer lines which will deteriorate over time.These issues can be avoided.

Ultimately, all the costs would be added to your basis in the property and depreciated when you place the property in service as a short term rental.

Non-payment of rent is always the path of least resistance to get someone out in a somewhat timely manner.

Cash out refi will be tough due to the price, not sure if there is a local bank you can reach out for the financing.

The value of the home is around 245k, although it has not been appraised that is the 'desktop evaluation', whatever that is worth.

What were the lot rents and how many lots were occupied?