Quote from @Sam Barnsley: We're in a peak market, meaning there's a very good chance the home will decrease in value in the near future, or at least stagnate for a couple years before it starts gaining equity.It doesn't seem like a good time to make high-risk moves.

The second will decrease cleaning expenses.

@Bill Brandt if it was a 6 cap then that would increase the portfolio, not decrease it.

If you're itching to get into something asap then 30 year am on the primary with a cash out would be the best way to do it while decreasing your lifestyle.

As far as the refinance portion of the deal I ran the numbers with current rates and they still work properly, hopefully the rates decrease and my potential profits take a positive hit.

In areas where the bedroom sizes decreased it benefited landlords somewhat, because tenants in properties were grandfathered until they moved.  

Sure there could eventually be a decrease in home prices if rates increase, but that will certainly be felt stronger in expensive markets - much less so for reasonable markets.

Las Vegas has done great with water conservation, decreasing water usage even with a growing population.

Either way, cash flow decreases.

In order for deals to pencil out, we either need to see a decrease in rates (which seems further out rather than sooner) or a decrease in asking prices.