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.

A successful rental property should offer positive cash flow, meaning your rental income should exceed your monthly expenses (mortgage, taxes, insurance, maintenance, etc.).To find the right tenants, ensure the property is priced competitively within the local rental market.

The asset was sold a couple years later and the operator gave all investors the option to exchange into a new acquisition or liquidate.

I suppose something more turn-key could be a good option, but haven't come across many viable options there yet.Anyways, we still have a lot more to learn and still need to familiarize ourselves with the area/market, but just wanted to pop in to say hi! 

I am finding tenants through Facebook Marketplace, the town has a shipyard and there are lot of people that come work for a few weeks/months at a time so this is a good option for them!

Use a payment processor to pay the original note and any wrap if there is a 2nd position secondary note that pays the seller the difference between their current mortgage and the total sale value. 

My vote is option one.  

KY still in general is well positioned IMO.

I have considered turnkey properties as an option

With countless loan options, complex terms, and strict lending criteria, it’s easy to feel overwhelmed.