I wouldn't worry too much about not having assets when it comes to qualifying for a mortgage, that's doesn't factor into the equation, with some readily available conventional loans.  

I think if you do the math and factor the costs of refinancing to save $80 a month, you will see that you are going to spend more in fees per year for the costs to refinance than you are going to save by not having the PMI.  

This wouldn't be a mortgage.The bank will tie up your funds and should offer a competitive rate, this is a low risk deal for them and I don't suspect your credit will be much of a factor. 

@Stephen Moskowitz I meant that the cost of renovating becomes higher if you have to factor in the cost to raise the home on top of all of the other renovations.

It might cost you $200 once or twice a year if there are bedbugs, ...That sounds very low for bedbug treatments IMO, especially for six units with total of eleven bedrooms.  

I wasted time and money in the DFW are, as my project installation for window treatments were not ready to be installed...so at 75mph headed southbound on I-45, I found the podcast.  

I believe there are a few different schools of thought on this.Personally, I think it's wise to at least take a look at how the numbers crunch with management being factored in.

Real estate here is hot due to many factors and I am interested  in the opportunity which exists.  

Is that factoring in the HOA costs?

There's always the possibility that they can go up a significant amount based on a number of factors that would really compromise cash flow.