If what you say is true, I know my base fee would be roughly half or a third of that for your situation if that helps to give you perspective.To speak to the other posts in reply to mine, I appreciate the clarification.

The roof and gutters are only a year and a half old.

In a text book case you'd buy a property for half of its ARV (after repair value) and then spend 25% of ARV on rehab and generate 25% equity.

I can't post much publicly due to BP's self-promotion rules, but if you have any questions, send me a message, or reach out to our support team who would be happy to help.We have almost half a million users using our platforms daily who absolutely love them.

Lets say you needed $100k in financing at 12% + 2 points and it took you a year to rehab and refinance that is an extra $14k + closing costs.2. you mention roof is 18-20k.

Once that extra rental started generating income, he realized the higher interest rate was just a temporary hiccup on the way to bigger returns.In your case, maybe look at a structure that keeps your best cash-flow property on a lighter refi (say 50% or 60% LTV) while you go a bit heavier on the one that’s not producing as much right now.

It seems like you’d get at least an extra $100/mo and it would pay for itself.

It’s an extra step, but it can save you from surprises later.Keep asking questions-it’s the best way to learn.

If this is your primary residence and you have an extra bedroom (or can make an extra bedroom), AirBnb can be very lucrative. 

It 12 years, assuming you make no extra payments, you'll have a paid off condo that cash flows a lot better.