The nice thing for me is the math is simple, and most of the procedures are proven.

Im using very simple math here that does not show the totality of things like purchase and sales costs, depreciation or anything.

Math

Similarly to Bjorn Ahlblad:  I Purchased a triplex under an LLC; In MA the taxes were very similar.

The math seems to hold true to the above, so far.

Just the quick math on your assets, two working adults, and passive income streams, there's really no reason for you to do be a stagnant saving situation unless you're not utilizing your rentals to its full capacities.

If the new rate is much lower than your current one, then you could do the math to see if a refi makes sense...and yes, it will be tough to get a new loan for $39k, as the associated fees drive up the true costs and most lenders won’t/can’t do a loan that small.

That math works better as well. 

Also keep in mind that there may be cash flow from the units, if your math was right. 

I reluctantly sat down with ours in weekly meetings going over the math & design implications of all we did to make the building code compliant.