Interest rates are so low right now that you should be buying as much as you can afford to create cashflow. 

This is how my buys are so low.  

Jim, feel free to add us to your connections.My company is a private buyer and private lender on low ARV $ SFR properties throughout the country. 

Should I refinance into the low 3s to increase my cash flow to around 400 a month or should I leave it as is?

My question is if that same strategy can be applied to the Bay Area as cap rates are so low here. 

FHA 203(k) loans are not  available to investors.Rates are going to be slightly higher on renovation loans, but still very reasonable.Homestyle has a rule that the repairs cannot be more than 50% of the as-completed value of the property, so when you're working with these really low priced properties you have to make sure the numbers work.  

For example, this property sat on the market for over 120 days, with over 35 showings and one low ball offer.  

I have been reading that the mid to higher-level properties are valued on cap rates just like apartments. 

Snow removal is $500.Water and sewer are $88/mo (this seems low to me?)

My parents keep rents low and are "patient" with renters in order to avoid the hassle of people moving in and out--older people like security, I guess.