Well then you should know the basic closing costs.....title search/insurance, deed/mtg recoding fees, closing fees, mtg docs prep, etc. and also which party typically pays what in your market.  

If it is an AE flood zone you could be paying more for flood insurance.

You're covered with title insurance.

Am I the only triplex owner living in insurance hell?

. $15/month property taxes and $20/month for insurance?

Yes, they need to be licensed and carry necessary HOA insurance.

They may also be responsible for tax increases and insurances increases over a base year. 

@Matt HoltI understand that many people choose to put properties under there own name and acquire umbrella insurance policies.  

Specifics:Duplex, bought/rehabbed for $210K ($60K of our own money)  We owe roughly $150K.ARV: $265KInterest rate on current loan: 4.875%Current Mortage/Taxes/Insurance: $1,100/moCurrent Rent: $1,200/mo each side ($2,400 gross/mo)Cashflow: $600/moWe have spoken with two credit unions (and will look into more) and here is what the numbers look like.Lender 1: Will lend 70% LTVClosing Costs (Not including an appraisal): $6,900Interest Rate: 5.75%New Mortgage/Taxes/Insurance: Roughly $1,450Cash Out Refi would be roughly $28,600New Cashflow: Roughly $250/moMoney into deal after refi: $31,400Lender 2: Will lend 75% LTVClosing Costs (Not including an appraisal): $7,000Interest Rate: 6.25%New Mortgage/Taxes/Insurance: Roughly $1,600Cash Out Refi would be roughly: $41,700New Cashflow: Roughly $100/moMoney into deal after refi: $18,250We don't necessarily need the refi money to do another deal or two this year but it would obviously help although it would decrease (I think) the amount of money lenders would be willing to give.Does it make sense to refi even though we won't get close to all of our money out of that first deal, have a much higher interest rate and decrease cashflow by over 50% or would it make sense to keep our money in that deal with the much better rate and not refinance? 

Does anyone have an insurance policy that forbids renters from having daytime guests on the short term rental property when the guest rents out the whole house?