Then waited until that account hit a certain $$ value then started taking income after that point? 

Hit me up sometime 

Sell it, Portland is hitting its PEAK! 

Factors I'm aware of that might help determine the most efficient answer:-tax writeoff of interest portion of mortgage payment (most impactful during early years of mortgage) -margin of net rental income after all expenses -ability to qualify for attractive interest rates on additional mortgagesBasically I'm just trying to get the most bang for my buck.

We put about $50,000 into rehab to ensure that we would hit the top of that particular market.  

Any local lenders with good reputation want to hit me up? 

However it wouldn't be very cost efficient to do two refis within 6 months of each other (delayed, then cash-out based on ARV) since each closing would probably cost approx. $3k.

I just want you to be more specific so when you hit your goal its the right one. 

With the amount of money floating around now, it would be hard to toss a rock into any of these and not hit a legitimate lender with whom you can have a real conversation.

Reliable, relatively inexpensive, and efficient to run.