Following up, will this affect my ability to re-fi or do a HELOC/Cash-out re-fi?

It should be spelled out there. 

You will never see 2.1% again in your life so before you move you should do all of the renovations with the equity so it's fully updated when you decide to leave so it actually becomes a strong cash flow property and not one you leave with stuff to do and it all comes up at once.

In 3 years you will be paying cash for a house.

@Denis Churchill  Why wouldn't you just sell it outright and get the loan paid off and out of your name? 

Since you're a cash basis taxpayer, I think the rule is that you can deduct the full amount.

We have some capital to work with, but would really be interested in finding out if this is a great way to go. 

and most of the time is  bad management, bought the wrong price, Interest and Insurance to the roof and, I cant get out the Bridge loan to do a DSCR loan etc ...Simple hands on, work do research and minimize risk. 

I was told that out of the four adults, two have credit scores above 700, one has 650, another has 600.

I think BRRRR can still work really well under 2 conditions: 1) you have another substantial source of income and your capital is somewhat renewable (I don't) or 2) you're willing to compromise on your target areas and move to secondary, tertiary, or out of state markets (I am not) or 3)  you're very lucky and/or skilled at acquisitions (I am from time to time).