Therefore, refinancing it out shouldn't be a problem.  

4) When refinancing into a conventional loan, do the banks require additional income beyond the rental income in order to meet the income requirements (even if I am cash flowing positively with my property)?

The house was purchased with private loans from family with the goal of refinancing to then pay back the lenders and keep our investment in.  

I refinanced my other two rentals for a better interest rate & to get rid of PMI -- and I refinanced them in a way that they are now viewed as a portfolio, and I can easily utilize the equity available by cross-collateralizing to partially/totally fund a downpayment & avoid PMI.

I’m just starting the process of shopping around and looking at various lenders.For those of you that’ve refinanced their investment properties (esp. in SoCal) where and what kind of rates are you getting?

Keep looking for ways to add value before selling or refinancing.

For example, our first property was bought with cash, so my guess is that a cash out refinancing or HELOC’s are not an option for us.

Hello,5 years ago I purchased my first income property (separate from personal residence). 1-2 years after purchasing it, my business crashed and I stopped earning income - I only make a miniscule amount right now, only able to save around $5,000 a year, and I don't see that changing.I'm in the final stages of refinancing my mortgage right now, and it got me wondering if I should be trying to pay off my income property's mortgage, or look into utilizing the equity in it to purchase another one, whether that be through a HELOC, Cash-out refinance, or some other means.I will provide my numbers below.

If not, have you looked into cash out refinancing from this town home? 

Have you contacted your refinance lender to make sure there are no issues with refinancing or if they changed the percentage of 80% LTV to 70%, 65%.