Thanks for sharingSo the seller agreed she misinterpreted the conversation but was willing to move forward since the contract was clear.

I have financed the acquisition of a property that was to be converted in to a retirement home.  The term of the investment went a little longer than expected, and I was just paid out my interest for the initial debt ...

And per a recent conversation I had with @Andrew Postell - you may be able to do even higher; though I would caution about the impact on your cashflow.If you don't already, be sure to get out to a number of networking events. 

Get prepared to have those conversations...

Love that you found this deal by taking massive action - Most people wouldn't have taken the time to spark up a conversation with the neighbors to figure out the status of the property.

Looking to my wife’s happiness and what’s best for our future family has been a huge guiding factor in my thought process.Yea I have kind moved away from the idea of being an agent or broker, though I may get my license at some point just to have personal access to the MLS.I do really prefer more personal face to face conversations so I like your advice about looking for local meet-ups.

It's also a bit more difficult to have those tough conversations when he makes mistakes or is taking too long to finish something.Either way, it's been a great learning experience that'll help me make more informed decisions on the next one.

Conversely if I do a cash-out refi, I'd just have 2 loans?

@Mike Patel this is not an RE investment but the purchase of a business, do you want to run a liquor store?

There is a great book on brrrr investing available in the bigger pocket book store