Should be, but your language is a bit less than precise* so good to check on the details with a professional (*not at all unusual or surprising as most peopled don't do this every day).

You cannot properly compare the numbers until you have ironed out the details on cleaning and have a good sense of projected price, seasonality, and vacancy.

I would determine how much more you will pay per month with the refinance compared to how much extra cash flow you will make per month by using the refinance proceeds to acquire another property.

Maybe Montrose, Pagosa Springs, or Cortez.Feel free to PM me if you want to talk more details on either the adventuring or the investing.

My worry here is the long amount of time I'd have to carry this extra debt, and that it might sour an otherwise good deal with this payment on top of a commercial loan. 

Operating agreements can be large and important details can get buried within the body of the text.

Details there don't matter, however what does matter is that we're about to bring home a sizable chunk of change in the next month.

Here is a link for the property itself: https://www.realtor.com/realestateandhomes-detail/309-N-4th-St_Decatur_IN_46733_M34729-76412#photo0Apologies for not having an analysis report to accompany this question.

They have not provided any detailed reports or receipts of any materials of labor.

If you don't want to disclose the source, that's fine; I'm actually specifically interested in knowing if your source provides you with details about the private note itself.