What about refinancing at that higher appraised value while rates are still low and then using your extra cash to help fund your next purchase? 

Expect a tenant turn over when you push.The problem with the community is the non enforcement of community rules and a low quality tenant base that does not have  very high social standards.

For our area, market rent prices are comparatively low and don't even come close to the 1% rule  (the rent to value ratio here is often more like  .5%, causing it to negative cash flow).

Then start the hunt for a nice tri or quad you can house hack with super low owner interest occupied loan?

Is it possible to refinance at a low interest rate?

Inventory is low (less than 2 months for residential houses) and there are still multiples offer situations on well priced properties. 

It depends on the situation, but yes if you are making offers low enough that 90% of them will not be in contention, and you are asking for bids on every one contractors will get fed up with you real fast. 

No, they’re just trying to show how much Your typical financing may cost...the rate looks low BTW.

Also, I've heard of HomePossible and HomeReady conventional programs, and I believe HomeReady you can own other real estate and still do a low down payment program, but I'm not sure if that's only for single family homes only.  

I'm worried that I may be running myself out of a good deal if I make these percentages too high but also concerned about being too low and having a major issue arise.