Taxes are low, area is fine, and the new owner would still cash flow a couple hundred with a pretty good return.

Maybe that property will go to foreclosure and be available in a year or so when I'm more seasoned ;) I had somewhat of an "Ah ha" moment after realizing that I can possibly pursue two paths that are not mutually exclusive for the use of the capital I want to invest:   conventional loans for buy and hold investing, and at the same time utilize hard money lending to rehab distressed properties. 

Get deals done the right way and connect with seasoned investors only on Bigger Pockets.

There is one set of stairs, which is also carpeted.Home Depot and Lowe's both gave me estimates of a whopping $10,000, and a local floor guy gave me an $8,000 estimate. 

Was your DTI low enough after your 1st property?

I am a newbie.I would think refi makes more sense because of low rates.

Whether that experience is sitting on a beautiful beach with my wife, or if that experience is fixing a leaky faucet in one of my rentals, or renting to upstanding, wealthy, Class A tenants, or dealing with a low income, but hard working tenant, who is having temporary financial issues. 

You can learn so much from a seasoned agent, no two contracts are the same, and on your own sale contract even!

I also reiterate that I like to keep rents low, but if I improve the place more than it needs to be, the rent must come up. 

Our debt is low (other than current home mortgage) and our credit is excellent, if that makes a difference.Thank you!