However, this is not always the case so buying solely for appreciation makes one more of a gambler.My suggestion to you is to buy investment properties based on Cash Flow as opposed to appreciation, this means that if for any reason your property did not appreciate like you thought (or at all) it would still be bringing in a healthy income.

It they are good tenants and you want to keep them, you may need to increase the rent incrementally as opposed to all at once. 

The house is:1,088 sqft3 bed 1 bath2x4 exterior walls 2x6 raftersThe R-Value that I have reach is:R-19 in the wallsR-30 in cathedral ceilingR-38 flat ceilingI have (3) options as for the insulation:1. 2 lb spray foam will give me r-21 in the walls at least and at least r-35 in my cathedral ceiling (most expensive)2.

@Troy BlethSince rates are so high right now, I think it would be best to hold onto it, get a heloc since you have so much equity in the house, use the money from the HELOC to put a down payment on a few more homes, so you get to keep the home that is cash flowing you 1k and you could buy a few more rentals.Selling such a great cash flowing property would be counter productive since you could use the equity to buy more homes and get to keep it as opposed to selling it (losing the property) and buying more homes.  

We invested approximately $40K into the rehab of this property and rebuilt the back deck, repainted the exterior, conducted siding repair, installed new flooring, repainted the entire interior, and updated the kitchen and bathrooms.

We are not opposed to list on MLS, but would rather not if possible. 

Exterior looks great 

Kansas still rocks thoAs a second note, HELOCs are based on the Wall Street prime rate as opposed to traditional mortgage rates.

I am currently pre-approved for a loan but it only goes up to 219k at 3.8%, I was going to call my lender and see if he has any wiggle room and see what is possible.Out of curiosity, why are you suggesting I use a non-conventional brokerage and file as a business when I refinance as opposed to a conventional loan? 

In life, people regret the actions they didn't take, as opposed to the ones they did.You can fail, and still end up exactly where you are now..