Additionally, new homes are being priced cheaper than existing homes, and the country’s second-largest homebuilder is offering concessions of up to 14% on top of that.Given these factors, home prices have a higher probability of falling rather than rising.

Already seeing airplane routes going through TYS with added carriers and routes--largest growth in the country last year, so that tells me we'll continue to see some development.

Other Factors for Your SituationIf your tenants eventually buy the home, a cash-out refi sets you up to take advantage of the sale without leaving equity idle.If you plan to hold long-term, the fixed loan from a cash-out refi is safer since it locks in your largest expense while rents keep climbing.If It Were My PropertyI’d likely do a cash-out refinance, lock in a fixed rate, and accept the short-term dip in cashflow.Use those funds for 1–2 new deals now while the rental income slowly catches up to the new mortgage.Skip the HELOC unless you have a very short-term project where flexibility outweighs rate risk.I hope this helps you make your decision, sent you a DM on BP, hope you can assist as well. 

You'd only need 3.5-5% down and can mitigate your largest expense--housing.

Looking forward to getting out of this particular rat race I am in right now. back in the day before the GFC I was the largest HML in the Jackson MS / Hinds county market So I spent a lot of time there..

Everyone here seems to have great insight/advice, I will see what I can do to help as well.At $7,500, assume that your mortgage doesn't change, and you are able to maximize rental growth, you are still ~4 years from the break even point, from a cash flow perspective.There are a few ways to reduce costs along the way: Renegotiate your homeowners insurance to ensure that you are getting the best rate, if you are covering utilities I would look into Solar and any form of water rebate, and if you are not self managing you should start as this can be your largest savings.We are likely still a few years away from interest rates being low enough to make a refinance worth it.

For decades many of America's largest companies have sold items to our Gov at crazy high values.

Neighborhood Safety & Appeal• Area: Bruton Terrace, older Dallas neighborhood• Safety: Average; check Dallas PD crime maps for specifics• Nearby Amenities:• Schools: Elementary (5/10), Middle (3/10), High (2/10)• Recreation: Parks, pool, baseball & tennis courts nearby• Shopping: Centers within ~1 mile• Transit: Car-dependent, limited public transit   3.

The largest negative revision in 20+ years.Yes, this is how the job data is collected, reported, and revised.

Rents and values are still below national averages and the local economy is supported by a large state university, an Air Force base that is growing in population and significance and a regional hospital.