But, if this great tenant has been conditioned to accept annual 3-5% rent increases, why would you disrupt that, especially in a period of high inflation?

I run a short term rental on AirBNB and after a year, the property is in excellent condition.

Units, location, condition dictates the program that works for each deal.

It seems like the system is set in a way where landlords can't really improve the condition of their house without knowingly loosing equity or cash flow. 

And if it was built around 1900 I would want to know what kind of condition the plumbing system is in and the electrical is probably way out of code.

It makes it nice, especially when the condition is long term.

You need to provide: your middle mortgage FICO or if you don't know it an accurate statement as to your credit; what is the NET income on your 2020 2019 IRS returns; W-2 years on job or 1099 income numbers; property type -units - location - condition; current value; what you purchase for; loan amount you want; the vesting; goals.

@Paul SandhuHonestly, what bothers me the MOST about other STR properties/hosts is the condition.

@Julie Toh Maybe the reason for the confusion in the poster’s mind....in the US, you can eliminate PMI automatically on a conventional after the equity exceeds 20%, when other conditions are met, without having to refinance.

We BRRR'd this property and we'll get a really good profit out of it with the current market conditions.