I've never done a dscr loan but if rates drop after your (most likely) pre-payment penalty ends, I'd refi.

As I navigate the numbers, I would like to understand current rates with 25% down.

Be extremely conservative - assume very low rent growth, very low appreciation, and fairly stagnant interest rates, meaning minimal opportunity to increase cash flow through a refinance. 

My wife and I purchased our property in 2017 and have ~150k in equity (and a lower Mortgage rate due to the 2017 rates). 

I am hoping to refinance sometimes next year when interested rate goes down.

Rent rates were low for our area which we have been able to raise those higher than we even expected.

I have 200k in liquid cash (yes this was self earned thru 5yrs of sacrifices and hard work 12-16hr days 7days a week with maybe a month in the summers as break to see family back home, but i dont want to do this forever) My dad and I want to be partners going into these deals. there is a new construction 4plex i am looking to build which will be 775k that i will put 25% down (half me half my dad) which will cash flow net 2k /mo if i rent it out LT (COC of 11% which isnt bad and apparently my agent who recently worked on a neighboring new build said the appraisal after its built is mid/high 800s, also my plan is after 2yrs to REFI at lower rate). i am considering to have 2 of the units as MTR for local nurses or construction crews which of course can increase profits much more.i also have a 3acre property that i am thinking to build small 2bd 1ba cabins and use as STR/MTR/LTR. but i am also wanting to do do STR as i love the concept and have watched Robuilt everyday learning from him. i am looking to buy land in a mountain/ski town (189k 10acres) and build a beautiful aframe and use as a STR. all these property ideas are close by to me so i will have a close look on them and will manage myself. i have just been consuming knowledge endlessly the last 3months in preparation for this decision.but as you can see my head is all over and im unsure what the correct first step will be. i have many goals and visions of what i want to do i just need some help making a correct first decision on those who are far more experienced than me in this real estate space so i use my capital in the most efficient way. i understand real estate is long game and i have no issues with that but i would like to at a minimum cashflow 100k a month by the time im 30. this is a big goal but i have 8yrs to do this. thank you for your help i look forward to the responses(side note: i am not considering house hacking as i live with my family, this will possibly be an option in the future)

I hesitate to get rid of it because I’m locked in at a 1.875% interest rate for a 15 year loan.

Were you so far under market that even an increase 20X the going rate left you under market?

I have a rental that has a great rate and low mortgage so I make a nice amount of income from it .