Own a SFR and the main sewer line collapses, you may pay $20K to get it replaced.

Under contract for $1,275,000, accounted for 1% closing costs, and threw in 50k for capex stuff (turnover and one of the roofs need to be replaced).

Now, I have to go to las Vegas to replace every floor molding in the house and I will have to hire an HVAC contractor to repair the AC and hire a welder to repair or rebuild an iron gate and fence.

A roof replaced in 2015 is NOT old at all.

The act of refiancing pays off the existing loan as the loan/Note/lien is replaced by the new loan.I guess the point is you are short on cash to do your next deal, then yes I guess you'll have to refi. 

We remodeled the kitchen and bath, new lighting and hardware, refinished hardwoods, replaced the fuse box with a panel, replaced galvanized lines, painted throughout and partially finished the basement.

We remodeled the kitchen and bath, new lighting and hardware, refinished hardwoods, replaced the fuse box with a panel, replaced galvanized lines, painted throughout and partially finished the basement.

It is highly likely I will not replace my monthly income in just one year of real estate investment so likely I'll have to go back into the job market.

Replace the HVAC that you thought you could get a few more years out of.

Window screen replacement.