It just means you may have to clean the house to get it performing where it needs to be, no problem with having to do that!

If this is fairly straightforward, we can then pay down the HELOC and then rinse, repeat with a third property when the time is right.    

Third, are there loans available for 80% LTV in this situation. 

As they say in the investment world - past performance does not predict a future resultsHow will things look when the market interest rate jumps 75 basis points and expenses continue to rise with inflation?

@Matthew Adams, Whether to sell or refi simply has to do with the performance of that property you own. 

I know STR's that don't have pools don't perform nearly as well as one that does so factor that into your rental comps. 

Consulting with a third-party management company in the area can also help clarify these assumptions.Creating RevenueMultifamily investors are always looking for opportunities to increase a property’s revenue and create value.

Unless your refi rate is substantially lower than what you have now, a refi will only drive that performance lower. 

My question is whether it would be possible to get an investment/asset loan (based on the property income/performance not my own credit/income) itself under an LLC and rent it to myself.

Rent--perform some basic rehab to get it rent ready and then rent it out; 2.