Don't over leverage yourself and let each property stabilize properly before refinancing it.

Refinancing out of the fha loan does Not relieve you of that.

@Narinder Gill, I have refinanced 3 properties at a time with Caeli Ridge of Ridge Lending. 

That property did well, so they refinanced and got another. then two more. then 6 more. and so on until they had 14 properties total.

I would be conservative and add a few points to what the rate currently is when analyzing the deal and would look for a more stable solution as soon as I could potentially value add and refinancing or raising rents and refi to get my heloc paid off.

The rationale I had to keep cash out refinancing was so I can pull money out to do more deals/investing - effectively borrowing at the lower interest rate that I otherwise couldn’t get from another loan that wasn’t collateralized by my house.  

Can some veterans share their insight and eyes and confirm if this is sufficient for a self managed property with hopes of refinancing out of the rate when the world gets back to normal.View report*This link comes directly from our calculators, based on information input by the member who posted.

It rents for $3000 every month, and with an appraised value of $375,000 we refinanced using a 1st Lien Position HELOC strategy to pay down the balance MUCH faster while have equity accessible to take advantage of opportunities.

Although I do recommend many of their services, if you are a RE investor, I do not recommend their RE financing unless you plan on house hacking with VA loans from duty station to duty station.

It takes at least 6mos for your property to " season" so you can get a refinanced loan on it, for my first 2 it  took a year.