However, since both units are rented this would be classified as an investment property in which case your rate will probably be 4.00% to 4.250% on a 30yr fixed depending on FICO credit score.The maximum loan to value for a cash-out transaction (investment property, duplex) is 70%.Based on the information you've provided it doesn't appear the value is high enough for the property to be eligible for a cash-out transaction but you can still remove PMI.If you want to send me a PM I can run a complete analysis to see if removing the PMI will offset the slightly higher interest rate.I'm also licensed in CA so if you're looking to purchase a property I can help with that transaction as well.

You are going to pay an extra 3.9% on investments outside of tax-sheltered vehicles (since Obama now considers you rich).Unfortunately, there's no way for real estate to lower your taxes.  

That way, you only pay closing costs on one loan and the LTV and LTC becomes sizeably lower. 

My staff spends and use a lot of resources on these lower end homes.  

I would look at it this way:On one hand, I can try to find a local bank that will like me enough (yes, it's a person-to-person relationship in these small banks) to give me the loan to refinance but they will do LTV or LTC whichever is LOWER and will usually use the current NOI as the bases of valuation. 

You don't get the same protection compared to a B to C transaction from Uncle Sam.2) Syndication has its positives and negatives.

We paid cash in the transaction.

I could not agree to this and the seller could not agree to a lower price to compensate for the above and so the deal fell through.As you see above although the deal fell through, I believe I learned something about the types of loan out there, closing period and alternate lenders.

Being a newbie and working with an inexperienced realtor, my transaction failed to go through the 1031 exchange process.  

Since it is our practice to analyse a property using the posted rate - and then obtain a variable rate mortgage 2%+ lower, but set out payments as though we were paying a 5-yr fixed at the posted rate ... it will be not change for us ;-)