I think the area is great - has fantastic highway access and it has been developing steadily.

You can have up to 10 properties with loans outstanding with Freddie or Fannie.

I asked him if he didn't want any of them and he said, "Yeah, there are two on the highway that I don't think I could rent out."

@Kevin Jones that are some great points in the prior post, but one thing I wanted to mention was using equity in some of the properties to pay-off the outstanding loans of the other properties. 

It is typically 80% plus of the outstanding shares.

An outstanding partnership that has flourished.

Pros- - Outstanding cash flow- Great small community with good school system- Mixed Units, 17- 2 BEDS/ 18-1 BEDS/ 1- Bed- Low vacancy rate- Common area laundryCons- - Extremely old building, 2 buildings total, an old school turns into multifamily living, built in the 1900's- Exterior isn't the nicest looking, it needs a lot of TLC. - Not the best location, the community that its in is about 10,000 people in the state of Illinois about 30 minutes outside of St.

I sent her an email reminding her to pay the outstanding rent plus the late fee, and a move out letter spelling out all her responsibilities to clean up and return all the keys/misc.

Note that that is different than the sale price due to closing costs, outstanding mortgages, liens, etc.

Regarding a lender, they will want to know all of your outstanding debt obligations to calculate DTI ratio