The 6.875% 7/1 ARM offers a lower initial interest rate, potentially saving you money on monthly payments for the first seven years, but after that, the interest rate can adjust annually based on market factors.

@Nickolas WolfeYour property definitely has the potential to benefit from a cost segregation study.

Conversely, a cash-out refinance involves replacing your existing mortgage with a larger one, providing a lump sum in cash but potentially increasing your monthly payments. 

I bring up new paradigm here :it's because of too much expansion of money.What I mean by that is because we have lot of money increasing floating around with downpayment as little as 5-20% can already purchase a house with 30 year fixed debt, the number of potential purchasers are increased by a lot, while supply is diminishing, the amount of liquid hard money is increasing, and liquid money is always going to hard asset like residential.if you cut 30 year fixed program and gov no longer print money, the buying power would reduce.

The Midwest but specifically Indianapolis would be a great potential option for you.

Yes, it is actually quite common for brokers to ask for a Letter of Intent (LOI) before sending over financials on a potential deal to safeguard confidential information.

Comes with all the bells and whistles, including a business domain and website.Local Attorney:An all-inclusive flat rate of $1,500 would cover personalized legal advice, ensuring all my paperwork is in order and potentially helping me avoid legal issues.I'm balancing cost-effectiveness with ensuring I'm setting up my LLC correctly.

If you negotiate a lower purchase price or have faith in the property's long-term value, spending more than the appraisal may still be feasible given the property's high cash flow potential and your experience with the market.

I would greatly appreciate any tips, recommendations, or cautionary tales you can share based on your own experiences.Specifically, I'm interested in learning about different creative financing methods, potential pitfalls to watch out for, and any legal or financial considerations that I should be aware of before proceeding. 

Any potential future buyer will have the same problem getting financing as you did.