Does your projected cash flow include debt service and other expenses after the refinance? 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $180,000

Cash invested: $5,000

My second house that was supposed to be my “forever” house. That only lasted 3 years...

This is how bank originated debt works in the apartment scenario you describe: The lender collects their origination fees and debt service payments are then collected priorty every month until the loan is paid off.  

We currently have 15 keepers, which is a great size portfolio while we have kids in school and college.  5 paid for houses will also do the job for you, if you have a pension from your service. 

Hi Logan, are there any reason for not going out of state for these services?

Consider that the other unit is paying or close to paying the debt service and you have little to no house payment. 

Cashflow is great but shouldn't be the main factor if you're trying to build long-term wealth. 

You'll struggle with the debt service at that rate after expenses on a property that size. 

I think the main steps include filling out and submitting an application and then attending the hearing the following month to have it voted on.

However, I just tried to call the number you submitted and the phone number is not in service. give me a call or email so we can connect!