I would determine how much more you will pay per month with the refinance compared to how much extra cash flow you will make per month by using the refinance proceeds to acquire another property.

On the downside though, this creates a much trickier lending situation, given the increased vacancies, especially since the property doesn't have that many units to begin with.Given that we haven't yet closed on the property, what's the best way to proceed?

ON to car dealers LOL.So I am sitting in the finance persons office while they try to up sell me on everything under the sun.. the one they were really hammering on was gap insurance..

Basically, in terms of the condition of the house that would be acceptable to my lender, we started with the insurance.   

When owner responds, we can proceed with repair/replacement. 

If datasets exists then proceed with further inquiry into what data is available4.

Does anyone know if this would fly (with FHA, with insurance, with resale?) 

Do you look to make at least $100 dollars a door after all is paid (Mortgage, Taxes, Insurance, Property Management, Repair %, Vacancy %, etc..) ?

super exciting, congrats...watch out for remaining open and pulling permits..Duval, border counties, like never before are targeting dumpsters, we buy houses signs, dinging for anything, door permits, etc....I "think" its because of insurance companies, and past hurricanes, the county is hunting and penalizing hard like never before......aggressively  against investors..the city turns a blind eye to children not in school during the day, rather than enforcing, but is looking for rehab investors to penalize and enforce.....maybe thats where the $$ is..

Apparently they make their income by offering to sell the tenants insurance and of course those who pay the $25 fee.