Your new 1st position mortgage would be at say 70% LTV (213K +/-) and then the 2nd would be for an additional 10% (30K +/-), which allows you to eliminate the MIP etc. 

@Justin Megna this may sound broad, but study every factor/variable that may have an effect on your investment strategy and specific target market.

With a HELOC, you can pay it off after you finish your brrrr and eliminate that extra payment.

My understanding is that the statewide eviction moratorium in CA is still effective until the end of this month.

That being said, I do recommend using a combination of letters, postcards, and flyers throughout your campaign so you can see what is most effective in your market.

in particular regulations that in effect result in not being able to get bad tenants out of your unit for lease violations (except as related to health and safety), non-payment, etc. 

@Julie Toh Maybe the reason for the confusion in the poster’s mind....in the US, you can eliminate PMI automatically on a conventional after the equity exceeds 20%, when other conditions are met, without having to refinance.

I would like to hear some of the pros & cons of this strategy from anyone who has done this before and if this has been an effective strategy for you.

For example: Paying off $20k of remaining debt at 0% interest to eliminate $500/month payments would yield a 30% cash on cash improvement to your cash flow.

Are there any owners of properties effected by hurricane Ida in Louisiana?