The Galveston county Sheriff ended up hauling the former owner to jail after multiple warnings. 

@Gary Arora  Sorry a little late but most of our investors use Ridge Lending to refinance and cash out. they seem to do a pretty good job at refinancing. hope that helps some.

If you do #3, make sure you have your sister sign a formal agreement and no trespassing warning and get it notarized so she knows she can be prosecuted if she reappears.

Just seems like there a lot of economical issues and warnings against taking a loan against my home. 

Investors ignore the warning signs, only see the $$$$ and buy properties that are very hard to find good tenants.

Second, if he's an experienced investor looking to move up to nicer investments, that should set off a warning in your head.

Your story has inspired me; I'm going to take another look at the site keeping in mind some of the warnings on this thread. 

The client is upset because they feel that the plumber, as a professional, should have known this would be a possibility, and warned them, while the plumber feels they have done exactly what they were hired to do. 

But it also warned me of how detrimental they can be without the proper guidance.You may wish to speak to a CPA in your area that specializes in Real Estate.

Thank you for your warnings and Im surprised by your responses.I have friends who have recently bought condos in Tampa in C class area getting 10% cap.