Even with just the one unit renting, we expect to make back our initial investment in less than 1 year, with plans to re-invest and purchase many more!

I had initially understood that the depreciation carried over...then I read other articles to the contrary.

If the appraisal was correct , you lost at least 11k by doing the remodel as opposed to selling if for the initial appraisal value.

I’m waffling a bit here…initially I wanted to be opportunistic and take advantage of the environment etc. but I’m not sure I want to buy another property right now, and wondering if maybe it was a mistake to pursue the refi?

Some of the fees on the LE I would question, but if its the initial LE, then it's for compliance. 

Don't let anyone tell you different -- C-class hands-on landlording is where you get the most bang for your buck initially if you can handle fixing a single-family or small-multifamily up.

Surely you don't always walk the property with a PM on every initial under writing do you?

Or do you simply take videos/photos during your initial view of the property and send it to them prior to making an offer? 

Purchase price: $70,000 Cash invested: $5,000 2018 Purchase 2Bed 1Bath in Kansas City$70k PP$27k RehabCash out Refi at $118,5 (4.875 rate) after 6mo and initially rented at $1000Payment $769Rent $1200What really makes this old deal sweet is that I only have about $4-5k cash into the deal, but it is now valued at $155-$160k, so I am doing another cash-out to drop the rate down to ~4.125 and only increase the payment by ~$20 per month (75 LTV).

Purchase price: $70,000 Cash invested: $5,000 2018 Purchase 2Bed 1Bath in Kansas City$70k PP$27k RehabCash out Refi at $118,5 (4.875 rate) after 6mo and initially rented at $1000Payment $769Rent $1200What really makes this old deal sweet is that I only have about $4-5k cash into the deal, but it is now valued at $155-$160k, so I am doing another cash-out to drop the rate down to ~4.125 and only increase the payment by ~$20 per month (75 LTV).