In the worst case, the property is offloaded as quickly as possible, pay off LOC and take whatever profit there is and go to the next investment.

I'm trying to get a mortgage, but it's entirely possible that the mortgage might not cover 100% of the price of the house.

I suspect it will be well used and have high maintenance costs.Software: office of google office, asana, possibly quickbooks (i would normally not suggest for a single rental, but the rent by room compounds things).  

I would just excavate a few 2'x2'x2' (or larger if possible) spot footings, w rebar and Simpson hardware,under the house (you will want to take up the floor to make this easier to do).

Today this would be possible in high priced markets were your average loans are more in the 500k range so only 10 a month.. like CA  NJ  Denver and ski areas . 

But I would not have the expertise of setting it up the best possible way for my specific needs.  

There's a lot less distress in the market nowadays, but if you know where to find it it's possible. 

Thank you,Jerry Jerry, I recommend getting in touch with an experienced broker who can educate you on all the possible options in the investment space for cash-out refinances.

If you’re referring to the “newbies” with $10k to their name that watch a video by Pace and get excited and pay for joining, go out with their last $5k and do a sub to with a “desperate” homeowner without revealing all the possible consequences (because they are unaware of the consequences through lack of experience and lack of knowledge and or choose not to inform the seller) then I agree, it’s probably going to turn out badly for all concerned.If on the other hand you’re referring to a seasoned investor with excellent credit, significant cash reserves, who wants to add a property to their portfolio without going through loan qualifying, and can pay enough to give the seller “walking away” money because of the low existing interest rates and or, and is dealing with a informed seller, then I find nothing wrong or negative about the transaction.  

I have 8 buildings with possibly 9 lines that I would like to get a package deal on sewer scopes of all the lines.