Don't compare interest rates, compare velocity.You want to have access to emergency cash for issues with the rental, so you'll always be setting aside a portion of the rent to that purpose rather than paying it back to the mortgage.

If it works out, it'll be 3 large fourplexes on 1.5 acres in Apache Junction, AZ, with a total of about 20k sf.I'd be happy to connect and compare notes with anyone else who has done something similar.

@Joe SplitrockIf it was a rental first then you owe taxes based on the percent of time it a rental compared to total owned time. 

Would love to compare notes with anyone. 

Educate yourself on what a good property manager looks like, then shop around and compare prices.

Comparing that time frame to the current price stabilization, buyers have the luxury of discernment in identifying areas for a potential path of progress.

Purchase price: $250,000 Cash invested: $115,000 Rental must be refurbed after last tenant, pool /hottub/ yard issueLeak from water heater created major damage, but didn't compare to tenant issuesMaking decision on selling/renting again to mitigate the costs of repair What made you interested in investing in this type of deal?

Others do percent plus added charges, so make sure you are looking at everything so that you are comparing apples to apples.

How is the Poconos compared to these markets?

The rate may appear higher, but when you consider how much money you pay interest on, and how quickly you can pay down a line of credit safely compared to a loan, it's a no brainer.Otherwise, with refinancing, don't worry about who you go with.