See numbers below...Purchase Price$121,000Rent$1,200Appraised Value$125,000Mortgage Balance$93,553Vacancy$100.00PITI$746.97Maintenance$50Future Cap-Ex$100PM$120Lease Fee$83.33Total Monthly Expenses$1,200Projected Cash Flow-$0.30I'm interested in possibly refinancing to reduce the mortgage payment (increase the cash flow).

Keep in mind it will be a 12 yr variable with a balloon payment due but that's not bad at all even if rates increase. 

The rising property value has increased the taxes to the point where it is eating a lot of my cashflow.

Our commissions increased based on the number of loans closed per month, and the volume of those loans.  

Here's my thinking.The cash flow, ROI, and potential margins from Multi-Family seems to consistently outweigh that of single family- from what I've calculated- without a great increase in investment total or difference in sale value.

That process doesn't work if you buy a nice house with a maximum LTV conventional loan because you've done nothing to increase the value.

I may pay more up front, but everything is updated and I am financing it over 30 years, so it is just increasing my monthly payment.

Larger buildings have fire alarms and sprinkler systems; fire walls; wider hallways and stairwells with double exits, etc ... all measures to increase the available window to exit a building in the event of a fire.

Dead equity is doing nothing to increase your income.

@Joe Lambert That makes me think that the rents I have been using for the area are too low and I could increase my rent estimates.