Using maximum leverage is not smart just because it’s possible.

Then when you scale up to 100 units, the work is actually LESS because a 100-unit apartment complex can afford a full time property manager and a semi-full time maintenance manager. 90% of the drama is gone and all you do is manage the property manager and ensure you increase its value through smart capex.

@Gerich FellermannIt's hard to do tax planning without looking at your return but I'll throw this out there:Income taxes are lower than they have been in decades.We're likely to be in a higher tax situation sometime in the futureYour income is lower than usual since you're starting a new businessMaybe paying the tax now at a relatively low marginal rate is actually the smart tax plan?

The VA loan option mentioned here may be a smart bet.

Kind of nice to punt those major cap ex down the road, but it is a rental and I don't want to over improve the units if that's not smart either.  

That doesn't seem like a smart strategy but maybe you can enlighten me.  

It's very niche, but the house is fully equipped for handicap access — typically split level house custom built with one main level, stair lifts to basement, wheel chair lift in garage, wide halls/doorways, railings throughout house, etc.  

@Daniel Dietz this is extremely smart and well thought out.

I think its a smart bet for you since its a triplex and Gavelston is such a cool tourist area I would think the property would asses for a good amount that you could pull out.

@Chris Seveney   Thank you for your reply.Yes, I am trying to get some opinions as to whether will it be smart financial move, going from the 15 year @2.875 into a 30 @ 3.75 (as of today, no points) w/ cashing out about 100K.JC