Start to evaluate deals based on the income approach and you'll do much better long term investing. 

👋My name is Anthony, and I’m an investor based in East Hartford, Connecticut.

Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.

Based on the above points, you asked us (experienced investors) what would WE decide.  

I'm now based in Ohio, specifically Cleveland, where properties range from $100K to $300K.

Based on the numbers seems like it was a straight forward conventional loan...any challenges?

Annual fee $25.PenFed - max 3 other properties, 89% LTV Regions- yes HELOC but no LOC SCCU Florida 70% LTV, 6.25% interest only, not LLC Sound CU "non-owner occupied HELOC, capped at $150K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv.”TD Bank TIAA Direct was EverBank Tower FCU, all states except TX, max 45 DTI, green card ok.

As to your point about confusion in the future, it's our policy to leave the conversation and thread open and available for anyone to read, they can gather all of the information and make an informed decision for themselves based on ALL the information provided.

By reducing the principal balance, your lender recalculates your monthly payment based on the new, lower balance.How Does Mortgage Recasting Work?

Property taxes will likely be reassessed based on the transfer value, so confirm local rules to anticipate potential increases.If you hold the property for at least one year, you can use the equity as collateral for a construction loan, aligning with your long-term financing plans.