Building a network takes patience and persistence, but with consistent, positive engagement, you'll find your community here.Hope this helps, and I'm looking forward to seeing you on the forums!

Looking to start the next chapter of my life, and REI is the primary path I have chosen. 

If you're not in a position to rent, you may want to just sell for cash and get out completely.

Default rates through 2024, barring a catastrophic collapse in valuations, will stay low since most homes have positive equity.

How much was the umbrella policy if you don't mind sharing$1347 annual for a $2M policy covering 3 cars / 3 drivers (one under 21), primary residence, one STR and an old pontoon boat. 

Depending on your LTV position, you may be able to refinance now because you already have a tenant in place.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Thinking about your refi fogs up the picture.The old properties: same tax position as before refi, absolutely no change.The new properties: your capital gain, if any, is the difference between the full sale price and the  full purchase price, regardless of financing.

However you would need significantly more cash compared to a primary residence house hack. 

Randy  I've been considering going with a 1031 exchange because I've been looking into duplexes as a primary residence doing 3.5% down.