I have done some REI off and on for about 10 years but not a full time business, I have learned a lot over the years and with additional study, I mainly have experience with rentals and property management. 

Any additional debt will increase the amount in payments to service that debt.Are you asking about a 3% rebate at closing for landscape allowances or closing costs?  

I am looking to Refi the property and also acquire an additional unit.

@Doug Rich, @Justin Mespelt, what I forgot to mention was that we were also offering to pay any appraiser an additional $1,000 on top of their normal fee in order to get our appraisal done.

Additionally, I am also a licensed residential realtor in the city and am here to lend a hand in any way that I can!

He's provided me with additional advice and quick responsiveness for a Richmond tenant issue.

First it is  not MY formula.Second, it is not useful for your $50,000 house because there are no cap rate comps.Third, few properties sell for almost 38% discount if they are in marketable condition. 

No stressful refinancing or additional closing costs required.- Tom

Thee BB gun is on the knowledge side, assuming you can get the money.Do you know the cost of your private money, and you probably won't need the whole value, seller financing has benefits to your seller he's not aware of;The assets determination for Medicare will discount a note to it's market value, that boils down to less out of pocket in the event he needs medical care. 

If they're doing any additional work such as rebuilding a chimney it might be more.