It's worth ~$350k and I owe $127k, I'm only refinancing to drop from 3.5% on a 30 year to 2.5% on a 15 year. 

I hope to learn from others in the area.We just refinanced our primary home with the goal of moving in one year and renting this property out as a long term hold (it will cashflow currently and the area has strong appreciation potential).We hope to eventually build out a rental portfolio with mostly multifamily homes (around 3-4 doors).I hope to continue to learn from this great community and am excited to finally get the ball rolling by posting here and interacting more.

I had a balloon payment last December that I just couldn't get refinanced.

Hey everyone,Is it possible to refinance out of a va loan into a non-owner occupied conventional loan? My 1 year requirement is met at the end of September for my va loan. I would like to refinance out and then use my...

Also, typically how long should you wait before attempting to get refinancing?

My parents have refinanced (from now on itll be referred to as "old house") the old house so often that they still owe almost full price on the mortgage.

No, it does not need to be refinanced.

The only issue I've had is that now I have an FHA loan I cannot get another FHA loan, without refinancing it to conventional first. 

***Note that be careful on 2 fronts, keep your credit score above 700 to avoid potential refinancing issues and beware homes below $65k in value after repair, those should be considered simple cash purchases as a lot of lenders won't touch them.

PITI is estimated at $2205/mo including FHA PMI of ~$220/mo for the duration of the loan (unless refinanced).