This nets out much cheaper than buying a similarly sized 3/2 Single Family home and offers nice flexibility with the extra 1/1 unit for an additional renter, STR, or more privacy when family is visiting! 

Additionally, how long is their contract for, i.e. are you buying the place with a commitment that they will be retained as the property manager for a certain amount of time? 

In addition the GP can always make the call that now is not the time to sell.. or have a vote.. only one that would control an exit in reality is if the bank called the loan and you could not refi..

Additionally the equity built up from the  mortgage payment each month can automatically go into the HELOC for you to access !

Any additional information would be appreciated, thank you.

I have a really good W-2 job in addition to my rental properties.

My wife and I are considering a cash out refinance of our first rental we purchased in 2014 in order to help us purchase an additional property, I'm Looking for advice. 

Any additional information would be very helpful! 

I'm interested in this as well and will interested to see what additional guidance the pros give!

When you're all considering calculations.. do you factor in the leasing fee (typically 50% to 100% of a month's rent -so on a monthly calculation it'd be 1/12th of a month's rent assuming 12 month leases) in addition to the PM monthly fee, too?