Rents are a little lower in this area (so make sure you are researching the rental market for this area specifically). 

. - cover yourself while you can, or demand a lower price.

But my parents (growing up) had lower end rentals.

Sometimes the seller will lower price, sometimes they won't. 

Lower than normal?

This means you will likely have to use a transactional funding source adding to your transaction costs and lowering your margin. 

So either sit on it until the market comes to you, lower the price or bump up that %Comm!

thanks, Monthly mortgage paymentsHouse 1 - Monthly mortgage $420 rented for $1125House 2 - Monthly mortgage $550 rented for $1125Not worried about vacancy for the time being, I clearly have wiggle room to lower rents if need be.

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)?

The trade offs are that the truck has an open, large bed and higher towing capacity but much lower MPG but the Hyundai Santa Fe I am looking at gets almost 30mpg and still has a good bit of cargo space with seats down and has a 5000 lbs. towing capacity.