The asset isn't the PV...it's the equity, which is non-existent.So, what I see is a property that costs $400k plus interest, that the rent doesn't cover expenses, and there's no equity, so...yes...this is a terrible deal....and,...With only a 3% DP, it will take forever to get enough equity to get rid of the mortgage insurance, which really doesn't matter anyway since that only reduces the negative CF from $500/m to $150/m.

Question 2: $300 cashflow is not a lot (doesn't account for prop management fees/CAPX), I should probably get rid of this property, so I can reuse the FHA for a multifamily right?

After reaching out to see if they are interested in selling it, coincidentally not only do they want to get rid of it and be done with it, but they also own it free and clear.

Other benefits of a refinance now:-Can refinance while interest rates are low (being offered 2.99%)-Can refinance while I still live in the property (plan on moving within a year and owner occupied rates are lower)-Can remove my partner's name off the mortgage and make him eligible for an FHA loan in the future (to buy another 2-4 family with 3.5% down)-17k mortgage pay down is technically money in my own pocket-I will get a tax break on some of the closing costs paidMy thought process is that eventually I have to refinance out of my FHA mortgage to go conventional to get rid of PMI (even if I was at 80% LTV).

I used 10%In 2 years, cap gain rates unpredictable (Biden could raise them; our income bracket would most likely decrease)Must space out sale of "primary residences" by 2 yearsNot really interested in making either a rentalIn 2 years, we'll have new house to move into (building that next year) Other things I'm thinking of:1) I have an awful HELOC interest only loan for $229K I MUST get rid of ASAP.

As an investor, I don’t know if it makes sense to get rid of an investment until we have another one in sight.Thoughts?!

This gets rid of the PMI.

I would put down 5% and then pay enough to get to 20% while living there within a year or two, then refinance to get rid of PMI and to cash flow better, when I will move out and rent out both sides.  

This is important because someone may have a dog in the house for three months, it causes a bunch of damage, so they get rid of it and tell you to reduce the rent.

Either way, what are the chances you can get rid of them if they are a problem with the eviction ban in the US?