Rental Advice

[Matt Madalis]

Hi all, first post so bear with me.

I became an accidental Landlord almost 2 years ago when we rented our townhouse. I'm currently in a 30 yr loan at 4.25%. Not clearing much after PITI and HOA fee (less than $100 per month). Its not quite at a value yet where I would like to sell.

I think I can refinance into a 5 yr ARM for around 3% which would buy me around an extra $200 per month. If I decide to hang on to the property do you think this is a smart move?

I realize my margins are tight I've had essentially zero problems with my current tenants.

Any advice is much appreciated.