We’re looking at buying a rental and are trying to figure out the best course for taking a second mortgage out.

If you want to be completely self-sufficient, you're willing to build an Earthbag home or another building that can be earthquake proofed but can still be run without public utilities, you can spend a ton of money on a well and can have that well water processed to remove contaminated mine crap, you have a great off-road vehicle and you can figure out how to deal with the flooding without redirecting that water onto someone else's land then you can definitely live there.If it's an Investment you're after, give that up.

WE figured homeless or someone Od.. called the cops they hauled the body out and that was the end of that.

I have about double $80K actually, in cash, just sitting in a high interest savings account until I figure out what to do with it.

You can’t stop folks from calling so best to figure out a solution on your end.

Make a spreadsheet with current income and expenses and then figure out how long until rent surpasses expenses.

Once you can figure out how to buy your second property, then you've started beginning to master scale.But I have a questions, you said:"Our end goal is to build wealth over the next several years and leverage that wealth to buy multifamily commercial properties!"

I plan to talk to both of them in the morning to figure out which is the best option for me. 

Many lessons have been learned firstly is you can’t be too nice or trusting and second is, don’t wait to figure out the refinance and cash out process and until you are almost done with rehabbing the property because currently going through a very lengthy, cash out refinance ordeal at the moment as I’m trying to get financing terms finalized as we speak.

Figure out your strategy and what works best for your project.cheers!