@Alan DolenskyI'm new like you and have been instructed to use caution and use the inspector and GC for the first flip to get a better understanding of what to look for and to make sure that all stones have been overturned.

Went into the branch, they look up my loan number, and it had been "overturned", so they won't honor what they approved me for after a 30 day process of submitting every doc they requested.

After reading "The Millionaire Real Estate Investor" the author was illustrating how the longer you have your property, the lower your % Return on Equity ((annual price appreciation + annual debt pay down + annual cas...

We do not overturn a sale and refund the purchase price because a bidder didn't know what they were bidding on, nor because they didn't understand the legal description.Do not count on buying a house at the foreclosure auction.

Raj,When considering whether to pull money out, a good approach would be to calculate your Return on the Equity (ROE).  

I do not know the Omaha market, but you can evaluate your RoE (return on equity) for your two properties vs. what you would get on a new purchase. 

ROE would be about 6-7%....

Well, a few things.Firstly, those numbers aren't compelling purely from an ROI/ROE standpoint. 

Not to mention your ROE is less than 1%.

With $150k in equity, that's a 6.3% ROE.