You need to time your refinances to stagger the balloon dates/years.What I would do, if I were in this spot, is to time your next refi to include taking out some of that built up equity. 

After talking to them yesterday and giving them several options  (including the eviction and the ramifications to their credit and such) and getting inside the property (which surprisingly is in great shape.. just a couple of blinds are messed up)  the tenant changed their tune and even apologized.  

This includes a 1 million dollar umbrella and basement flood insurance. 

(Cash flows around $160 factoring including loan payment, insurance, property taxes, 5% vacancy expense, and 15% of rent for CapEx and Repairs.

I did not include the garage rents since the garage accrued no expenses and not every property has one.Vacancy = 4%Operating Expenses = 50% and breaks down as follows:Property management: 10%Fixed expenses (property tax, insurance, water, sewer, trash): 21%Variable expenses (maintenance, repairs, lawn care, leasing fee, gas, electric, inspections): 19%

Prepare and submit a complete, organized, and professional looking application submittal that includes all required and recommended (by your gov. official contact) information.Hope this helps.

Usually it revolves around life-safety features like smoke detectors, egress, etc, but depending on the locale can include that it’s reasonably clean, no broken windows, etc.

For example (not including closing cost) I could only find 1 $400k property within the 45 days.

My payment for each of these two are $1350 each including insurance and taxes.  

Location is fairly good, land is on a major rd and the back part of it connects to an established neighborhood with older brick SFR’s All units a tenant owned, utilities aren’t included and overall condition of the park is on the low end.