If you refinance, you pull the 32K back out to use on your next investment, and use the income produced from renting your duplex to service the mortgage, cover expenses,  and create a fund for future capital expenses.  

If you can produce a superior product, that is where the money is at.  

I'm just making the point that your deal produces numbers very similar to what many turn key providers offer.

Once we move we want to begin looking into multi-family properties for buy and hold to produce passive income.

If you don't have much or any experience as a landlord or owner, you probably don't want to deal with the kind of neighborhood that produces those kind of on-paper numbers.Hope this helps!

One word of caution - Your state may have rules about how quickly the earnest money must be produced after ratification.  

So, the GC never produced an estimate or change order.

Doing the refinance will give you a return on the equity that is otherwise silently locked away in your property producing nothing. 

Once the loan is paid off, you now have an incredible cash flow producing asset with no debt attached to it.12) Easy to RefinanceAs property values increase over time, rental properties are relatively easy to refinance.

Not good.We use a custom lease agreement that my attorney's and I produced ourselves from scratch.