It will take away from your cash flow each month but you will have the 15k per property that you get a loan on and then you can get another property with it which may create enough cash flow to pay the new loans that you have created.

I’m still new to real estate, so my knowledge might not be perfect—please be mindful!

Is this a new tenant you put in or did you inherit this one?

As a fellow New Yorker I understand the need to look outside of NY. 

This new twist of claiming you owe them money is a typical scam tactic to put you on the defensive so you won't contact them about the money they actually owe you. 

I put $6000 into repairs, mostly paint, new light fixtures, new appliances, painting cabinets and fix a small leak coming from the roof.

Quote from @Alan Mills: Got an inspection objection back with something I’ve not seen on my other rehab’s (this is a Colorado property):“The seller agrees to have a licensed plumber install external sewer cleanouts per city code and scope the sewer line ensuring its integrity.”This was a full interior/gut rehab and almost everything is brand new.

There are HELOANS - at that juncture, your best bet is to evaluate what is called the blended rate and compare that to an entire new first lien (cash out).

Always looking to connect and hear new ideas! 

As for offering subject-to financing, this is something that can be advertised under 'seller financing' in our local MLS, and there's investors that search specifically for listings with that marked, so that should introduce your property to a new set of buyers that may not have considered it before.