That is fantastic conversion rate.

The interest rate was 4.5%.

The local building department wants the replacement stairs to have a 1-hr fire rating due to the proximity to the neighboring property.

I deliver these by hand so I can meet each renter.

However in some areas just about everyone already meets that criteria!

but, higher interest rates have made that much tougher. 

Will banks have any issues doing a cash out refi on deal like this assuming i meet all the other qualifications such as credit score and DTI.

The big question here is what rate and term you're open to. 

I am not trying to accomplish anything other than taking advantage of some other homeowner's low interest rate rather than me purchasing a home with a 7% rate.

I've had lots of inquiries from small families who are interested in fewer bedrooms.The house meets the zoning requirements to be a duplex, and structurally, it seems like it might have been a duplex before, even though it's currently registered as a single-family home in city records.