Your equity equals how much “cash” you would have left after paying all debt on the property, whether it a 1st or 2nd mortgage, a lien or a heloc doesn’t matter

The equity you receive in cash will equal the same thing in a different, CASH FLOWING, property with one huge difference. 

All factors being equal, doesn't it make most sense to pay off the one with the highest interest rate first(IF you were to do it)? 

If the building ever gets a $25 summons ticket from Sanitation (it happened once) we then bill it to the tenants in equal share. (1/3 each for a 3 family) and send a sternly-worded email.Re: Legal obligations - I know of no "legal" obligations to curb the trash on behalf of the Tenants that would supercede what was specifically agreed to in the Lease.  

My team and I are looking to partner with muti family investors around the  country, whatever it looks like, we specialize in acquisitions and have been wholesaling for about 5 years, we would like to start as equality partners and bring deals to others we have systems to hit a lot of leads and experience in talking with all kind of seller's, we would love to bring vulve to others and slowly build up and eventually be full  time in real estate.

These loans DO meet my criteria, so I feel they are safer than many of the funds I looked at.If I'm in a state, like Texas, with great foreclosure laws, this, for me, is no more risky than buying the property for all cash at the price point equal to the loan balance.

Banks are not created equal, but Credit unions are all pretty close in terms from our experience, especially those in the Philly-Allentown markets.

Everything. 2) Make sure you have a signed contract that is legal and thorough. 3) keep the progress payments relatively equal to the work being done....example - don't pay for tile when you're still doing framing.Go get some bids and then come back and talk to us again... 

This method allows you to deduct an equal amount of the cost of the property each year over its depreciable life.

@Jennifer TaylorSmall world, I live in Greenville SC also and invest in Multifamily properties via syndication.We do cost segregation on all our deals and typically we find an investor gets depreciation equal to 35% to 40% of the amount invested.So $300,000 invested might generate $100,000 to $120,000 in depreciation.The big question is this depreciation loss is considered a passive loss and generally can only be used to offset passive income.You need to find out whether withdrawal from an IRA is considered passive income.You need to find out can the depreciation be used to offset the income from early withdrawal?