I've had 1 tenant stay for 3 years, the others have stayed for a year on average but it depends.

The Economic Development there is focused on building competitive regional talent, diversifying the regional economy, transforming Montgomery's image and building diverse community capacity.Major economic drivers to the area include Hyundai manufacturing, Maxwell & Gunter Air Force Base, major Amazon distribution, Alabama State Capitol, Alfa Insurance, Kinpak, H2 Pharma, Dollar General transport/logistics, Dow Chemical, and Conner Industries to name a few. 

If interested in low-cost properties with above-average rents, I would recommend duplexes in Cleveland near the major hospitals and work with the gentleman I am referring to. 

You can take yourself out or severely set yourself back if things go awry.I've bounced around the investment mortgage industry for 5 years. 

Last I checked my average across 30 units was something like $179/door.

I believe you had a much better-than-average result here.

Average of 40 days on market.

If this is how a cash out refinance works, it feels like the strategy is to either have more to rent out within the property (multi-family), wait for average rents in market to increase, rehab the property more and increase rent more, pay off the property/ more of the mortgage and refinance again without a cash out to decrease the mortgage (I don't even know if I can refinance a property twice)? 

Then there's misaligned incentives players in the construction industry may make more money the longer a project takes to get completed. 

Then, obtain quotes from at least three actual contractors. ( insurance and all that depending on the work)You'll likely encounter three types of contractors:The Super Expensive Guy: Highly skilled but often in high demand, resulting in premium pricing.The Average Guy: Offers good quality work at a reasonable price.