I'm struggling with that, if I should cash out refi (or rate and term refi) when the rates drop more and use that equity to buy another property, do more renovation (ADU) or another investment strategy. 

Many times tenants would drop off the check in my mailbox, not so much anymore with Zelle. 

If you are buying a turn key and do not expect to take cash out for a few years just gauge that on your prepayment penalty years.Rates vary depending on credit scores, LTV, DSCR ratio, Loan amount, Property type, number of units.Good news is rates have been dropping so DSCR may not be a bad option if you buy and simply refinance in 12-24 months.

I am okay with the 5/30 amort, because worst case scenario, if I don't see rates drop, I can just sell or refinance. 

You can always do a cashout refi if rates drop. 

It used to be fine and helpful, but now it's embarrassing when someone doesn't ask about Columbus, Ohio, or the midwest and you drop into a post to suggest Columbus with the benefit to you (self-promotion).

You could always refinance later when the property appreciates or when rates drop further.4.

I’m now battling a civil lawsuit (that I wasn’t informed about) thanks to Home 365 dropping the ball on a tenant issue and they’re not helping.

I can say the reality is institutional buys are a drop in the bucket.

I have a 4 unit, there are some bedrooms on the third floor that don't quite meet egress requirements because it's a 22' drop from the window sill instead of the maximum 20' I've been thinking of solutions and came up with something that I think might just work.