Vacancy is a real cashflow killer3) If after refinancing and potentially increasing rents you still don’t have adequate cashflow to fund reserves and property management (you will need this at some point in order to scale) you might consider selling the property and rolling the funds into better cashflow markets4) Investing out of state - there are many markets across the US with positive cashflow and good appreciation potential and Orlando is certainly one of those, maybe with more of a bias on appreciation than cashflow.

we have our lender and were ready to roll.

@Matthew Kinch Curious your decision to hold onto this via refi vs selling it and roll into 1031 (pre-COVID)?

Check BPP tax rolls as well.

The market has improved over the past 12 months and we have been able to push rents 3 times already with no drop in vacancy. 

The ESOP is being held in a Money Market account until 5 years after my employment was terminated and the 401k is currently available to be rolled over ect...

It would be very difficult to push a cable down a toilet and through the trap all the way to septic system.

Looking to get the ball rolling on building a portfolio in the Dallas/Ft Worth area and curious about what others would do in my shoes.

I would say depending on the age of the house roll that 10% of the Management fee into the CapEx (Older house= more major repairs) or you could also bank that 10% for future renovations.

Sell: Roll the ~$115,000 (after selling fees: broker, title/escrow, state taxes, I est. 7%) into another investment.