Also think about your ideal guest.

The amount it is producing does play a big role in whether this is a wise move for you at this point, but before you make that decision, have you considered leveraging your business instead of selling it?

You can play around with how much you want to take out.

We were the ideal customer of a real estate investor. 

I also think, the flat rate ppl are playing to a race to the bottom. 

Ideally you need to throw 3-4 hours a day at it to see fruit down the road.

How that will play out for long term values is unknown - however human nature has shown proximity to water is desirable. 

The refinance step is where you pull out this equity, typically in the form of a cash-out refinance.Here’s how it works:You refinance the property at its new appraised value (after rehab and renting).You take out a new loan based on that increased value, ideally for the full amount or more than what you originally paid for the property.The goal is to pull out enough money to cover the cost of the original purchase and rehab (or even more, depending on the property’s appreciation).This allows you to recover your initial investment, which can then be used to buy your next property.5.

Around year 7 or 8, ideally year 10, re-assess your equity and maturation of those debt notes and re-adjust how you invest to suit your needs. 

Under Alabama law, that is a VERY dangerous play and you could end by losing money.You also cannot sit back and let him build the house and say "Thanks."