The below terms are live as of this date, for a rate and term refi (no cash out).From left to right:Points: 1, 1.25, 2.Prepayment penalty: 10 years, 3 years, 5 years.Commentary/review, hopefully this thought process is useful when evaluating offered terms for a maturing commercial mortgage that needs to be refinanced. 

I was told my by loan offer over a year ago that the rates in spring of 2024 would be back in the low 6's high 5's... look where we are. 

You can recapture some of the 10-20% AND provide additional value to the client in the form of a lower overall price for the same rental. 

Additionally, any tips for out-of-state investors would be invaluable.Thank you in advance for your help!

Turnkeys offer less hands-on management which is ideal for beginners and it give you valuable experience as a landlord.

Additionally, getting in with a local broker helps as they can shop around for you.Umbrella insurance is pretty cheap to add on in my experience, so I think it’s worth it.

AKA it is a way to access some of the money you've put into your home while also making sure you can still afford your mortgage payments and other debts.You will need a renter in place as rental income is apart of the calculations when underwriting these loans in addition to the other factors you mentioned like monthly housing expenses (PITIA: principle, interest, taxes, insurance, assocaited fees ARV, debt outstanding.

Using leverage is such a powerful tool to scale your portfolio beyond what other investment options offer. 

If it's done right and the layout makes sense you recover your money on the added value of the house, not in the monthly additional rent.

Wont LLC comes with additional annual tax filling complexity ?