However, it was a good move as the market appreciated and I paid down the mortgage in the two year rental period.

(My partner and I are both VERRRYYYYYYY long-term buy and holders, so even this 15yr period is much shorter than I plan to have this property.)Plus about $50K in my share of equity from the improved value on top of the rehab costs(conservative IMHO).

Usually someone else's funds would have to be in your account for a period of time of partner B would have to add you to their bank account and then the lender might only accept half of what is in there towards your funds.

We offer maximum flexibility (including picking it up at the rental unit) but retain the right to standardize to a required method.Our wording:Delivery of rent: All due on the first day of each monthly rental period, it is absolutely the responsibility of the tenant to mail/deliver rent payment (cash, check, money order/cashiers check, deposit at Red Canoe) to (name and address) or at such option or other place as Landlord designates.

.- Holding Period: 1 Year- Renovation Time Frame: 3 - 4 MonthsI would buy this property under the FNMA guidelines of the First Look Initiative which allows Owner Occupants the first "stab" at purchasing the property before Investors. 

Now the new leases are horrible asking a 6.5% cap which isn't bad but now no rent bumps in primary term until option periods after 15 years!

So while it's not as attractive as fully amortizing 30 year loans, it's still long enough for you to lock in a solid rate and have that rate fixed for a period of time until your balloon period.

Brie's advice (30yr) is in line with the majority of real estate investors and allows you the ability to aquire more property in a shorter time period.  

Based on current interest climate and the amount you owe I think refinancing won't help a ton...UNLESS you can find a mortgage with low closing costs.Depending on your amortization period you could end up resetting that and earning much less principal pay down per month by refinancing into a 30 year.Assuming a 30 year fixed is roughly 1.5-2.5 higher then what you're paying now it'd probably(LOOSE ESTIMATE) take 7-10 years for interest rates to rise high enough make the difference in closing cost + lost principal pay down...again the changing of interest rates will impact this greatly.

Can you get a longer amortization period than 10 years?