Not sure how you fail, reno is the same way for cash.

Take your equity cash out and do it again!

So, the best course of action is to have liquid cash for repairs and trusted contractors who are willing to fix the issue at a good price ?

Andrea,My corporate office in in Chicago and some of the 2-4 units right now offer a good price point and cash flow. 

I will say this, I would rather negative cash flow $100-300/month on a long term rental than positive cash flow $500 with an STR. 

I've been in a similar situation and found a few great options that integrate with QuickBooks Online:Stessa: Seamless integration with QuickBooks, real-time visibility, plus historical P&L, cash flow, and return on equity.

I showed them the whole business model and spreadsheet...We ordered the Feasibility study and appraisalThen they gave me a Term Letter that states everything even construction cost analysis by their 3rd partyThats where we are atwe have a GAP of $2.7MWe came up with the strategy last night.. that at the very least we need $1.5M cash to pay a balloon payment by June 27 or it forecloses... the lord will not let that happen.So I have the green light from the Lord to talk to all the interested investors as He is opening up the doors of Favor

I found this week’s property and it looks like they a good job finding a property that is eye catching and potentially cash flowing:https://www.zillow.com/homedetails/73292-20th-Ave-Desert-Hot...Here are the numbers:https://www.bnbcalc.com/analysis/73292-20th-ave-desert-hot-s...What do you think of this investment opportunity?

Should we wait for lower interest rates or consider a cash-out refinance.. or maybe something else?

I have been considering a DSCR loan on the Townhome to get some of our cash out of it.Given my situation, how could I use that... to expand my rental properties?