If you cash out equity in a property, you are "borrowing" that money from the lender.

It's terrifying to think how fast it can spread with that kind of force behind it.

from my advice rural properties and developments aren't successful and you are climbing an uphill battle. sounds a little niche. we focus on developing and not reinventing the wheel. if this is truly what you want to focus all your time and energy on then visit the closest 5-10 of these that look like the ones you are interested and ask if they'd expand or build a secondary one. do a lot of research before you just take action 

Don't forget, you’re going to be out 10%+ in closing costs so you’ll walk with zero cash and pin your hopes on them paying you 20-30 years from now if that’s all they put down. 

To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs. 

I am willing to pay to leverage their connections, especially considering I am looking for my first out-of-state deal.

So let's of properties to choose from.

Assuming it's worth $65k, that's a return on equity of 15.7%.

Feel free to reach out directly with any questions.

I see mostly out of state or out of country investors working with New Western in Birmingham because they don't have the knowledge of the city and surrounding areas.