Way too much liability and risk out there.You can't purchase a residential property in a new LLC in NJ unless you have two years of tax returns on the entity or a relationship with a local bank who will allow it.

Like @Ryan Moyer said I can utilize that cash now to invest in more properties and kick the can down the road, potentially past my time on earth.

He emails out potential properties to be funded and the first person to reply with a filled out order form will be funding that loan.

Raising equity, learning to become a property manager and fund manager simultaneously, and balancing the risk between asset allocation, core returns, and density of portfolio. 

It's a matter of the systems they have in place to limit the risk of things like you describe form happening..

Fortunately they were both my bank's liens but they were a potential nightmare to fix. 

I tend not to provide financial advice but would say as I get older my risk profile will continue to decrease.

Risk level is lightBut if the deal looks like:140k purchase160k rehab420k ARVThe above deal is twice the size, the rehab is more than the purchase price, the ARV is in a range where houses can take 3 months to sell. 

Plus, think of potential additional cashflow for the future when you refinance.

Reasonable priced major city but looking at other cities now potentially but haven’t invested the time into understanding another market yet.