I think home prices may see a drop soon so it may be a good time to refinance now unless you don't mind keeping your money tied up for a longer period and just let it cash flow at 890/month. 

Shot in the dark here but I'd guess they drop it in 2-3 months. 

Drop by an office and talk to the cutest broker 😉... 

'Waiting' for a market drop, too much of a seller's market, some other life event..... there will always be something.While I can't speak to the Raleigh-Durham market specifically, I'm actually in the process of closing on a deal in Chapel Hill right now - a townhouse with a downstairs efficiency just off downtown Carrboro, so I'll be treating it like a duplex.

Meaning a drop of sand on a huge beach of need.I suspect those in lower socioeconomic areas will stay put, no need to move as long as Section-8 keeps a roof over their head (and for various other social factors present in this population).Also it seems like its not just those from lower-socioeconomic areas burning things down.https://www.nydailynews.com/new-york/ny-molotov-nypd-brooklyn-lawyers-charged-20200531-nxamwxnjmzgvzmczi6z2ypcbzi-story.htmlAnd with talk about Antifa being part of this, and Antifa being declared a Terrorist Organization, that may break the backbone of this thing, and when they are rounded up (or dealt with otherwise) people may feel like the real threat is gone (true or not).Just my 2 cents.

I think everyone keeps thinking the shoe will drop on rents, but so far it hasn't. 

This is a drop box link to the pdf. 

If it is a value add you can do the renovations and then refinance at a later date to hopefully drop the pmi.

found it on redfin. the hud report stated it needed electrical repair and had a water leak. so i was able to get the bank down on their price from 250k. i had been watching this house for a while and knew it was priced high and the second they dropped the listing price i went to go look at it as i knew they were motivated. when i walked through the house i noticed the water leak was an easy fix and also there was no electrical issue as the breakers were just shut off.

Do you have time to drive for dollars to knock on doors and drop off postcards in a target/farm area for an experienced investor?