@Colleen F. , I think you're on board with a lot of people on the time management/estimating, expense estimating (how often are we all on time AND budget?)

So, the simple breakdown is: you pay your investor back, plus interest (let's say $33,000), several thousand dollars goes to closing costs on the re-fi, you pocket the ~$10k net difference between the $48,000 and your lender payoff/fees/etc., and you own a property with ~$12k equity (assuming you could actually resell at 100% gain one year after only putting in $5k).Yes, it would be a sweet deal for you.

Happy holidays Joseph F. I

@Todd F. I

@Christopher Giannino @Colleen F. I

I got a sweet deal and did a re-fi to pay him off about 2 months ago.

@Riley F. I

It maybe worth exploring the idea of 100% owner finance as well; he could have a steady cash flow for the next 10 years but amortize the loan for 30yr and then re-fi the loan as you increase the value of the property.You want a deal, but don't blow an opportunity explore other financing opportunities with the owner.  

That being said, I pick cash flow (B/C, not D) all day.Mike F. I

Once you crunch the numbers on market rents, instead of cash flowing a couple hundred a month could you possibly re-fi or find a HELOC to put 20-30% down on another property that you could also fix/rent or flip if the market supports it?