So it's a waiting game for that property until you have enough to do a cash out refi.

It's amazing how cheap it can get when you're paying physical cash and having your contractor pick it up at the warehouse.

Property values continue to grow in value, and you can actually live off the rental income.I think it's best to hav all properties paid off by retirement age, since that's when you are going to rely on cash flow for your living expenses.

I am building them especially for STRs, but they will have a cash flow as regular rentals.

Purchase price: $171,000 Cash invested: $29,000 Small 600 square foot cabin tucked away just outside of the quaint city of Ellijay GA.

The sponsor is likely suggesting that your monthly cash-flow will be shielded by depreciation and you will likely see your 'tax hit' when the syndication disolves which in industry standards is likely 5 to 7 years.

Another idea that we have been exploring is using the cash value of whole life insurance funds for emergencies. 

The loan will be used to payoff the 49% partner and allow me to take some cash out.

I was looking to put 80k cash into then refi afterwards and possibly getting 130k. 130k on mortgage would be close to $800 only leaving $200 in cash flow each month. 

Not possible, 85% max LTV on a purchase or straight refi, 75% max LTV on a cash out refi.