Okay that makes sense, thank you for clarifying!

Maybe there is something missing from your overview but what your lender is telling you does not make sense to me. 

But with us doing 2-3 remodels a year at a minimum (and this doesn't include the smaller jobs, such as finishing attics and improvement projects on the rentals, which we also do year-round), and having 11 full time rentals, in which the employees take care of, does this make sense? 

Either the properties were priced too high where it just didn't make financial sense to me (mostly in the towns surrounding Trenton) or I wasn't fast enough to react and the properties were scooped up ASAP. 

So if someone can assist me on how to look at homes and get the correct details I need to run my numbers to see if a property would make sense to purchase or just some ideas on getting myself familiar with this process.

I recently graduated college and started my career as a mechanical engineer and have recently decided that while I love my job I don't want to work for the rest of my life, and real estate investing makes the most sense to me in order to gain financial freedom before I turn 60.I have been reading a ton of real estate books and discovered the bigger pockets book on rental property investing which gave me a great introduction to all the topics and possibilities in real estate.

Does this term make sense?

Or is it just best to do the "cashout refi" and then shortly after try to refi again to a lower rate (if rate /cost makes sense)?

I did not stumble upon BP until after my purchase of my Condo, so I never intended on using my current home as a rental but i am debating if it makes sense.

I figure the Santa Fe makes more sense, yes?