My name is Mike and I am brand new to to investing in real estate.

After all costs, let's also say I can profit $80k for each home if I sell or I can continue to to reap $300 to $400 a month in cash flow.

I am currently thinking where would be nice to to buy for the future that I can remotely manage until I move in (when vacant).

Short: Can I refinance a rental property to cash out on equity without having a "job?"

Longer version: This house is in New Orleans - bought a destroyed property after Katrina and rehabbed. Lived there shortly and...

Thus, our rehab crew knew how to to do mid-high end rehab.

Here are another few pieces of advice that can help - especially if you have a full time job:* Cell - Buy a pre-paid cell phone and record all the details regarding the property (how much, how big, verification needed, security, etc.) on the VM.

Consequently, a thorough verification of the gross income and expenses is critical.

From what I am hearing and reading is that banks will allow you up to 80% of the rents collected to use to to service debt and expenses.

They also require no appraisal, no income verification, no tax returns, probabyl no copy of the lease, etc.If I were to go to anyone else, may lenders don't want to touch these, unless they're already servicing the loan, the qualification process is massively tougher.For instance, many lenders can only go up to 105% of value and you have to get an appraisal, Also, you'd need all income documented, tax returns, debt ratios, just like a full blown refinance.

Processors assist the originator and acquire verifications, set up the file and may coordinate closing issues.If you have any specific question, like well agreements, road agreements, appraisal issues, just post it up!