Thanks to everyone who offered input, seems like the smart choice here is to save more cash without getting any more leveraged! 

@Ryan Hill I really appreciate the input - I don't have all of these things in place.

A lot of choices for this too.It's very uncommon for the mixer valve housing to go bad (they can leak but don't often break)The joys of home ownership...

It’s also a good look being proactive and taking these steps early - it will build your credibility with them.I saw Chattanooga is the area you’re wanting to invest in - great choice!

I figured it would be great for me to know as a landlord myself.Thanks in advance for any help, Ryan

@Ryan Sweeney You might want to see what kind of investing is working for your friends.

Ryan A.

@Ryan HowellI appreciate the invite, most definitely interested.

@Benjamin Papet the primary purpose for BRRRR is to help build your portfolio so the refinancing step is intended to accomplish a couple things: 1) affords you with lowering the cost of debt and 2) most importantly, it provides you with the funds for your next deal, hence the "repeat" step.There is a delicate balance with how much debt and leverage you should have so that is a personal choice based on your affinity for risk and how much reserve you have.  

You see I have a choice whether to self manage or to hire a managing company.