Excellent cash flowing property with equity to reinvest.

This property cash flows over $400/month, and has appreciated about $100K+ since we purchased it.

Expenses are about $20k annually for utilities, cleaning, etc.Looking for any advice as to how to proceed with this. 

However, after doing the math on the 3% down payment, I would no longer cash flow.

Finding a property that will cash flow after refinancing is very challenging these days.

Their business model relies on deal flow, and that requires some conformity to what the secondary market is willing to buy.

I invest in Michigan, we still have many areas with both positive cash flow and appreciation.

We never imagined it would take us over a year to find and close on a property that cash flows.

We are seeing some of the best deals on SFH and small Multifamily for those with 1031, cash or clients willing to put a little more on the down payment to break even on little cash flow.  

the issue right now is that with both prices and rates high, it is very, very tough to have cash flow unless you're employing some kind of creative and/or hands-on and/or value-add strategy, or combination of strategies.