Note that I'm asking for PURELY an opinion, not "legal advice".David J Dachtera"Success is not a destination.

Are you going to be owner occupying or is the property a pure rental?  

Required: mechanical systems and features necessary for the reasonable maintenance and preservation of the house.Not required: items purely cosmetic in nature, especially if they existed before possession.Fixing the bathroom fan is just plain good sense.

Purely a maintenance issue.  

Our rate is 4.2% and I would like to purely refinance that down to a lower rate, just so the monthly payments are lower, all the while refinancing it into a conventional 30 yr. 

I've been leaning more towards buying a multi-unit in a rapidly appreciating area vs. a single family home in the area that we currently live in (a suburb with a great school district and is appreciating, but taxes are high), with the idea that the rents on the property we buy (say $5k total in rents) would exceed the rent that we are paying (say $2500 rent).I'm totally excluding any tax benefits/liabilities for this scenario and am purely looking at it from a monthly payment perspective.

The air con I  would be 1 on my list and for sure for pure up keep recaulk and freshen up

I actually address this below (Mike Butler) but understand you can make 100% purely innocent "mistakes" So let's play this out for a second......You receive a phone call asking about a property you have for rent.

If you lease requires a notice in order to terminate, then you do not have to do anything to renew the lease as it will renew automatically, unless you or the tenant give proper notice to terminate.According to the book (p141), "If you have a pure, fixed-term tenancy, no notice is required to end the lease.

After struggling through arduous months of fighting arrogant dirt bag professional tenants it should be pure pleasure to exercise final authority.Winning should be a celebration not simply a relief.