I always tell people, before they start thinking about what % they can leverage out the refinance for, ensure that this property will meet the DSCR threshold at the higher leverage amounts. too many people get caught up on whether they can get 70, 75 or 80% but then when the appraisal comes back and market rents show less than they thought - they are out of luck.

Be prepared to have your money tied up a long time.3) The majority of properties that do make it to auction have been abandoned for years.  

I educated myself for years on multi-family investing (or so I thought), and still felt like a stranger to these type of investments.

Also, tried to do a HELOC but was denied.Thank you again, Julien for your thoughts, I really appreciate it!

Initial thoughts - Let's go worst-case.....say you can only get $900 mo rent.

@Zach Ranney your overall thought process is exactly what I would recommend.

Oh yeah, between the huge jump in price & rates, you will probably go from making good cash flow to breaking even at best, and tbh it’s certainly an argument for keeping your current property, I’d probably look at how much I was making in cash flow, how much I was likley to be able to grow cash flow & how much appreciation I thought was likely, than do the same for a replacement property, see what each looked like 10 years out. 

So RE pros, and Orlando experts, what are your thoughts?

My thoughts: I think that properties can be sold at substantial discounted prices.

I also love helping people obtain their goals of home ownership, especially when they thought it would be impossible.