@Samuel It is my understanding that you can recast the loan if you make a large payment which should keep the original low interest rate and give you a new adjusted, lower mortgage payment going forward.

My understanding of the Federal Law is that the tenant can make modifications to the home at their expense but have to but it back to the original condition at their expense.

As someone originally from New Jersey, I am interested in returning to the East Coast and investing closer to home.

Do these tax advantages disappear when the original owner passes away and hands the portfolio to their children?

The LTV ratio also dropped to 70% from the original quote which was 75%, which impacts the cash-out amount. 

I'll have to check the original documents to see if they're allowed to do that and I missed it.

I don't even want to circle back with the lawyer I originally engaged as I was not impressed with his support or follow up.  

The original mortgage was 144,000 and I heard that the junior mortgage falls off [it was a tiny 32K].

While I call Florida home, I am originally from Baltimore, MD, and I also run a small real estate team there.  

The mortgage will stay in the name in which the home was originally purchased.