I wouldn't do it on a cash-out basis, I'd keep em tied to it.

In Columbus, appreciation is between 7-17%, and cash flow is at 8-12%. 

This will help guide your decision opposed to investing somewhere for a novel reason.for example for me it was cash flow, price to rent ratio, land lord tenant laws and availability of multi-families(Just to name a few). 

Using mortgage debt at 6-7% on a refinance to pay off higher rate debt such as a credit card at 15-25% is a savings!

Apparently they take preferred interest in your company or have you sign a UCC cash flow agreement.

Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

If you ever want to get into a tenant nightmare of costly potential litigation become a landlord, have the ac go out in Phoenix in July, and inform the tenant that you just don’t have the funds to replace it!.    

I would clear that out if you sell, keep a little to "stage" it.

Purchase price: $150,000 Cash invested: $90,000 Bought as a forclosure gut job.