It's incredibly important to safe-guard your interests to prevent you from being burned at any point.

We also are continuing to burn off concessions, down from $250k this last year to $100k this year, with the plan to reduce them down entirely at some point (although we didn't in our underwriting).

Typically the refinance should have a tangible benefit where you can calculate your burn rate. 

Hey All, So a few days ago i reached out on this forum after being absent for the most of 3 years because my rental property had burned down... long story short 3 years later i just got the keys to my newly rebuilt townhome rental.

We currently are on a month to month rental that is somewhat open-ended, however it burns my soul paying rent when we used to house-hack

I once had a tenant leave a voicemail on our phones that they burned the house down.

“Burning the boats” or cutting off the consistent paycheck was F-ing scary!

House could have burned, flooded from frozen pipe burst, burglary, vandalizm.

On a Saturday morning in late November we got a call that there had been a fire, presumably started by a few homeless people sheltering in a cove created by the garages and the rear units, and the garages along with the back units had been burned down.  

@Cassidy Burns Thank you so much for the advice.