If you’re looking for suppliers for less expensive materials then you’re better off with a local reliable contractor.

But he did that because there's only a 1% pre-payment penalty so he didnt want to incentivize us to refinance.

I've calculated the mortgage payment to be around $5500/month with a 6.6% interest rate and 20% down so that means the property will be in a negative $1600 without even counting capEx, vacancies and other fees. 

Look at your expenses- if you have a car payment, credit card payment, etc, get rid of those.

one option is to continue renting out all four properties to cover mortgage payments and generate passive income.

Really, my biggest concerns are monthly payment and down payment.

If you buy a house in 2024 on a 30 year note, you've essentially locked your "rent" payment in for 30 years.

Looks like you're starting where many new investors do, well those with at least $20-30,000 for a down payment on a rental property.

You will need to make sure rents are high enough to cover the new monthly payment on the refi.

Condotels generally require a minimum down payment of 20%, which all comes down to the condo financials and the condo questionnaire once under contract as to whether or not more than 20% down payment will be required.