What condition does a property need to be on to pull cash out.

[Omari Morgan]

I've bought a hand full of properties outright and owned them for a few years. I'm looking to pull cash out and leverage these properties. Hopefully someone can understand this question. The are in decent condition, 3 year old roofs, in good repair and working order but 2 are in C areas and definately lived in. What condition should a property be in for the bank to finance against it? Should I repaint and spruce them up with the tenants in there? It's my first mortgage on my rentals and I just dont want to waste time or money getting rejected.

[Omari Morgan]

Thanks for all of the input @Alex Bekeza, @Dave Skow, @William C., @Account Closed  

Dave, you guessed right.  6 homes total.  With a loan only on my home.

Mike and Alex - Good stuff.  So the I have owned the homes between for several years.  Oldest 5 years Newest 6 months.  All but the newest one I have 2 years of tax refunds showing positive cash flow.  The only issue is that one is not rented at the moment. (The tenant just moved out)  Should I wait for a new tenant?

William - Thanks that gives me a some piece of mind.  I think you are 100% right when you say I am "creating fear where there shouldnt be."  Your insight was very helpful.  I think Im just trying not to go to the bank and make a fool of myself.   

If anyone else has anything to add.  Ill take it!