.:-)Comments:There are low cost ways to extract equity achievedThe appreciation is tax deferred. 

A HELOC on a primary residence will have better terms than a HELOC on an investment property.Also, to clarify some of the previous comments, according to the VA website, the borrower is not allowed to extract cash from their equity using an IRRRL.Good luck on your first rental!

This is what I have found on DI uses19.48.020 - Permitted uses.The following uses and all others determined to be similar to these uses pursuant to Sections19.08.030 through 19.08.080 of this title are permitted in the DI district:A.Resource extraction and energy development uses:— Oil or gas exploration and production pursuant to Section 19.98.050 of this title.— Solar energy electrical generator which is accessory to a permitted or conditionally permitted use and where the power generated does not exceed the total on-site power demand.

All your transactions belong to your broker meaning commissions are paid to the broker and he extracts his cut and then you get yours.

However if I do a BRRRR I can achieve infinite return by extracting all of my investment.

I was able to extract some of the money from the 203k to pay for major work done by the contractor. 

Some of those moves were cash out refinances where we extracted appreciation and paid off other notes.  

The outdoor section of a heat pump extracts that heat from outside and transfers it inside.

Class C renter -- maybe depending on strength or lack of strength of other applicants at the time (due to public money vs earned income).if so 1st, last, and security + days of month left in this month (not a years money in a pile and then she has to start paying--bad training--that end of year payment might not be there).If she messes it up, 5 day notice, late fees,etc...up to filing eviction (and a turn) if needed.My guess is irresponsible focus on monthly bills, but if the $$$ is there 12 late fees add up to some extra cash flow from that unit.But definitely not the top of line renter--but sometimes you have to settle vs. losing 4 months of rent to a vacant unit waiting.But it depends on how you want to run your business--there are only 12 months (52 weeks a year to extract cash from that unit).And it depends on [IF] you can afford to take a risk with that units cash flow--or if you MUST have a stronger renter.But if stronger candidates are available, why take the risk.The year in advance is probably a convenience for her to not have to focus on bills vs. a gift for you...meaning she probably knows it's her weak spot--and that will probably bite you if you rent to her.Just my 2 cents.

Generally the lower number the better.Yes the 8 cap is correct.I would have to see your parcel to see what makes sense for highest and best use so you could extract the most money out of it.