Net income = $39,240Monthly operating expenses are as follows: Trash - $33, Landscaping/yard - $66, Electric - tenants pay, Water - $95, Maintenance $87Monthly taxes about 3KSo, gross expenses are at $41,064If I'm doing the calculations correctly, my net operating income is -$21,888 and cap rate is -3.4%.Obviously the current numbers look terrible for this investment, but I feel like the rent should be raised significantly based on comps (above 2K each unit). 

Never assume anything with a newbie. haha I have reviewed the bylaws and through my untrained eye I did not see a clear statement about the windows, just general statement about adjusting the exterior of the building, so I have requested additional information. 

Over time, you could leverage this equity to invest in additional properties that provide better cash flow.Diversify Investments: You're already invested in stocks and real estate, which is great for diversification.

Hi Chelsea,Can you provide any additional details?

Additionally, your local FB groups and REIA's will have them.

But if you're Househacking then you need to take away the income for one of those units because you'll be living in that unit.I don't see water, sewage or garbage either. 

Keep all the units I currently own and just save up for each additional unit like I have done to build up what I currently own?

Feel free to reach out for any additional information.You and your wife are on the right track.  

If the property turns out well I will recommend the GC I'm using (assuming he wants additional work, he seems pretty swamped).

In addition, the cost to cash-out refinance an investment property at 80 LTV probably would be beyond ATR/QM limits.