There is a recorded mortgage and also a promissory note.  

There are several benefits of having cash in the bank/liquid reserves versus an open end mortgage (a.k.a) credit card.

An no, there’s no appreciation, these homes are cheaper than they were 30 years ago. 

Do you take out a second mortgage on an Airbnb that you never wish to sell that’s almost paid off  or do you take out 100 grand against your primary residence.  

Like many businesses, the flipping niche has 3 categories that differentiate one flipper from another: quality, faster, cheaper.

Where these numbers are found, there is a very high rate of rent actually being paid.We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints.

@Josh WillisHouse hacking involves buying a small multi-family property and renting out units to cover mortgages.

My thoughts are that if it’s in good enough shape I can sell to a consumer buying with a mortgage company or if needs work sell to an investor for a discount to make a profit.

I have about 150k equity in my home and have $215k balance on my mortgage.

Then, I am using Rent Property Calculator and mortgage payment to estimate if the property can yield a positive cash flow.