Correct with one additional step - If 1031 is still around you can bet I'll be also. 

If you need more info, or have any additional questions please let me know!

@Darrick LoweThat's not the window, that's the external window wrapping.

One plumber said there was "additional" work required that was not covered which was a joke. 

I'm actively trying to find properties where I could turn them from a 2 bedroom to a 3 bedroom. I found a potential property and I think that's where the "extra" square footage is coming into play (the house has 2 bed...

Hi Gideon,Find out how much it would cost to finish the basement and also find out how much more you can rent the house for with the additional 1-2 bedrooms and bathroom. 

You'll be a great addition to the forums with your growing experience!

The proposed refinance = 30 years, monthly P/I = $670, rate 4.75% 5/1 arm portfolio loan, but closing costs seem high at $2400.Goal is more cash flow to put toward additional properties.

Hence, I'm considering adding on a bedroom and bath and refinancing, (also I could add a small bedroom in the basement for 1/4 cost of addition, probably more aligned with making a rental). 

As well as many more.In addition, you have to make sure the property aligns with your goals and objectives.