Take on a cash Partner that buys in with $145k (50% of ARV = $290k) and give them 50% of the deal (or whatever you can negotiate).Pay off the 2nd mortgage.Do the rehab....and use the excess cash from the buyin as needed to cover monthly costs while rehab is being doneRefi to get your monthly payment down with a lower interest rate.Turn your house into an AirBnB. 

I work with turnkeys excessively and there's lots of cash flow to be had on them, even with where we are in the market.

I did my due diligence and pulled the taxes to make certain nothing excessive was due.

So that they can be billed for excessive use?

Re-evaluate your asset mix at a set interval (perhaps twice a year) and invest excess cash to "rebalance" to your target mix.

I find it incredibly easy to achieve returns far in excess of this interest rate. 

If it doesn't generate fat piles of excess cash you don't buy. 

It matters the size of your property and how large the new unit would be.https://www.phila.gov/media/20... [2] In the CMX-2 district, the number of permitted dwelling units is as follows, provided that, whenever the calculation of permitted number of dwelling units results in a fraction of a dwelling unit, then the number of permitted dwelling units shall be rounded down to the nearest whole number:(.a) A maximum of two dwelling units are permitted for lots less than 1,440 sq. ft. in area;(.b) A maximum of three dwelling units are permitted for lots that are 1,440 sq. ft. to 1,919 sq. ft. in area; and a minimum of 480sq. ft. of lot area is required per dwelling unit for the lot area in excess of 1,919 sq. ft.; provided that(.c) If the green roof conditions set forth at §14-602(7) are met, the number of units allowed is 25% greater than indicated by the foregoing lot size requirements, applied prior to the inclusion of any other applicable increases in allowable units, and the provisions of subsections (.a) and (.b), above, shall not apply.[3] In the CMX-2 and CMX-2.5 districts, in order to promote active uses at the street level, buildings must contain a use other than residential and other than parking along 100% of the ground floor frontage and within the first 30 ft. of building depth, measured from the front building line.

Even if the standard markets will not write it, there are specialty (aka Excess or Non-Standard) markets that can cover you. 

They waived my deductible even though both claims were in excess of $30,000.