This savings could translate into a higher return on your time since if you paid back your 49,200 and only have 20k left @12% interest lets say your month cost to hold the property is not substantially less in the absence of obscene closing costs or points.Option B:This may be an investors dream cash back 45k in your hands and a property with no skin in the game "infinite return," assuming you still cash flow with 120k of leverage on the property.A tenant would be paying your mortgage, taxes, insurance, and etc while you've retained the property, received 45k non taxable proceeds from the refinance since the asset has not been sold, and potentially making some income each month if the numbers work.120k @30 year fixed 5.625% is only about 690.79 per month and taxes and insurance I'd wager (depending on state) is probably 130 more.

Underwriting assumes that you will sell the NOO or the vacation home before you would sell your primary residence in a time of desperation, thus the need for more "skin in the game"

The difficulty you have now is that the buyer has no obligation to allow you to change the closing date.

If you really want the place and are sure you can flip for a profit you have to put some skin in the game.

Being overseas obviously adds to the difficulty of the situation.

Most lenders like to see a track record, skin in the deal, and collateral.Joe Gore

Also, there can be difficulty w/ lending for buyers in some situations.

@Marvin Spears,You are on a site that will prove far more valuable to you than any guru you can find, anywhere, at any price.The whole guru, coach and the latest fad, information marketer 'scamdustry' just makes my skin crawl.If they were as good as they claimed, they couldn't afford the cut in pay to become a guru or a coach or an information marketer.

The second level is supply and demand: How many units exist, what is the trend of vacancy, what is the trend in concessions, how many are being built, how many are in the planning pipeline, how many new jobs does it take to absorb a new apartment unit, how available is land for new apartments, how difficult is it to entitle, permit and build in the jurisdiction.

He's also selling a 2 Million+ RV park so he doesn't need the cash but is more concerned with someone coming in, not taking care of the properties/tenants and unless he gets a good down payment they have no skin in the game.