My suggestion would be to hold if it’s performing unless there was an opportunity to trade up to a significantly better quality asset, like a B+/A location (GV, Summerlin)

It depends what you are looking for.I would say the sweet spot between quality neighborhood and economic factors is just around the median price point - as of Jan 2020 175k for Milwaukee, which BTW is up 8% from the previous year.

Also, while I understand that the property is new so you may not have as much cap ex/repairs upfront, sometimes those big complexes are put up quite quickly without a lot of concern for quality. 

But I’d take my outstanding debt on the property from $258k to $420k.... this kind of scares me, but I know if I can keep this rented my risk is minimized while I lay down the debt.

Rates and terms vary widely based on credit score, quality of the property, appraisals, liquid cash, etc.

Or would it be a good option to refinance the properties to pay off any outstanding debt and renovate?

Kick back in the living room, cook your favorites in the kitchen, relax on the shaded back porch with fenced backyard, enjoy the community-on-your-own-terms household, or zip over to the excitement of Boulder or the beauty of the Rocky Mountains.This room for rent is part of a CommunityLiving Home, which are high-demand and high-quality rent-by-the-room living arrangements.

Hello Ryan,I am currently house hacking a duplex in Boise, and love the quality of life it's given me! 

We pride ourselves on provoviding quality housing for all of our tenants.

Unfortunately so many of them are on roads like Sullivant, Broad, Cleveland, etc.. areas where its not awful to have something on a sidestreet but the main road gets a lot of drama, so worry about tenant quality.