The ratio above works anywhere.Step2 "Existing":Ineach town count the number of units by size.

You might want to look into seller financing the rest of the DP or cross collateralizing other properties to come up with 100% financing. 

Here is cross reference between landlord friendly states and their associated property taxes :)LANDLORD FRIENDLY X LOW TAXESWESTIdahoWyomingColoradoArizonaUtah (moderately friendly)New Mexico (moderately friendly)MIDWESTSOUTHWest VirginiaAlabamaLouisianaSouth CarolinaArkansasMississippiTennessee (moderately friendly)NORTHEASTLANDLORD FRIENDLY X MODERATE TAXESWESTMontanaAlaskaMIDWESTIndianaOklahomaMissouriNorth DakotaSouth DakotaSOUTHKentuckyNorth CarolinaFloridaGeorgiaVirginia (moderately friendly)NORTHEASTLANDLORD FRIENDLY X HIGH TAXESWESTMIDWESTOhioMichiganIowa (moderately friendly)Wisconsin (moderately friendly)Illinois (Chicago is tenant friendly)SOUTHTexasNORTHEASTPennsylvaniaNew Hampshire (moderately friendly)

Its just marketing, the math is all that counts (add up all the fees regardless of name and thats what you are paying for points)Not rare in this current market (rates can only go so high, so more points are needed to make the economics work for the lender). 

Does that count as a capital expenditure?

So, sell if you want to, or hold if you want to, not here to dictate that…I am just suggesting if you do refi, count it as a win if you get most of your investment back out.  

And money in the future is almost worth less than the money today considering inflation if not counting in the opportunity cost of not investing that same amount today somewhere else. 

You don’t want to count on growing equity (especially in multifamily properties).Read this this article for more information https://thecollegeinvestor.com...Good luck!

It's the people, NOT the brand (brokerage) that counts. 

I'm looking to build a fourplex in north Houston and trying to count the costs.