I'm looking to refinance my existing investment property to purchase one in Pittsburgh for the purpose of short term rental am crazy to do it in the current market situation with Airbnb being what it is ? 

For private institutional lending, first-time home buyer, the most aggressive I have seen lenders in this space is 90% of the purchase price + 100% of the rehab, not to exceed ~70% of the after-repair value. 

Why do you think purchase contracts are so long and have such small print?

Are you looking to purchase this new subject property or renovate? 

I've watched all the calculator tutorials but do not know which one will be the best for me since I will not need a loan to purchase the home.

Also realize that the taxes on the unit that you are basing your purchase on - are the current owner's taxes.  

At the time of purchase we were more than financially capable of paying the mortgage and we have been paying the mortgage.

Think of it like going to a car dealer to purchase a new vehicle.

Is this for a purchase or refinance?

I have 2 properties in Schuylkill county PA which I'm thinking about refinancing so I can pull out the equity in them and purchase another property.