We're deciding between:1) Refi into lower rates and payments (1-1.5% lower) and then getting a HELOC on the equity - Pros: lower base interest rates, lower adjusted monthly payments, lower loan costs, HELOC applications costs are minor, not paying interest until the money is used for that next investment. 2) Cash out refi on all 3 properties - Cons: higher base % rates, higher loan costs, similar monthly payments, paying interest from day one.3) 1st Lien HELOC - buy out the current loans balances with a HELOC with 1st lien - Pros: Even lower loan costs ($10-$15k less!)

@Jennifer D. well maybe it is in another part of the contract about costs and adjustments otherwise this is a poorly written contract.

Don't just take last years taxes, you need to look at what the property is assessed for and then adjust based on the price you are going to pay. 

Mild adjustment to the rent; maybe $50/$100 per month for 12 months...

What are you expecting to do for $120K and how much does Cicero charge for soft costs and then the tax adjust?

Also, don't forget about your insurance company for damages, the adjuster will deduct normal wear and tear, you may also be entitled to rent lost while you are bringing the property back to a rentable state.

New retaining wall, fixed deck, new hardwood flooring in bedrooms, new vinyl flooring in bathrooms, updated downstairs unit bathroom, painted entire house and made a few other minor adjustments.

@Tim Herman You make great points about Vacancy, I have never looked at it over a longer time period (I'll adjust).

With federal/ state eviction moratoriums, have you continued to work with marginally credit challenged tenant applicants or adjusted your applicant criteria?

On rare occasion the person trying to strike a deal with me, actually seemed to be paying close attention to me, and adjusting their approach in accordance with what I say, or ow I act, and so forth.But all in all, I learned to see right through every solicitors exact strategy pretty quickly.