Here are the numbers I've calculated  based on 80% refi of all 3 properties, at 30 years, at 5.25%:Item                              Current                 Post-RefiCash available         $        0                   $300,000 +/- Cash Flow/Year       $   65,000              $  52,000 +/- Re-invest $300k from Cash out as 20% DP on more properties (there's an even better way than this too)& using the same ratios of ARV to NCF, you could increase your NCF an added:  $78,000/year; to $ 130,000/yearYou are sitting on a Gold Mine here, and you're thinking like a "homeowner"...not an investor...although you're not alone.Your Options:  Limited by the maximum Cash Flow from existing properties after complete payoff Max CF/Year                                                                                    =  $   95kCost to do this (pay off all mortgages using your cash)          =  $  456kNet result                                                                                        = - $ 361K  (that's a loss)REFI ALL Option:  Limited by ???????                                                                                                             

Hi @Greg Deane,There are several risks, but if you're able to find a well run community, it's gold. 

http://www.latimes.com/local/california/la-me-lopez-equity-wealth-20171126-story.html

With a work from home job, you should be able to transition to full time RE faster than those who are chained to a cubicle.

Real Estate is tested and proven over centuries to provide the opportunity for wealth with crashes once every few decades and Bitcoin is a unproven cryptocurrency that uses block chain technology.

Meaning, your attorney really needs to nail all this down in a watertight agreement in order to avoid that the owner suddenly sees the gold himself.

I second @Nathan Golding - Service Master is a great company to work with. 

I just did a turnover for a 4 year tenancy of a chain smoker. 

If they have enough copper, aluminum, and other resaleable metal their "melt value" may be higher than their cost--kind of like buying scrap gold LOL! 

Tell her you have a chain saw you can loan her.