Your ultimate backup should be equity in the collateral (property) which can be recovered if the borrower defaults.

When you're talking about an area where rents can go from $1,200 a month to over $2,500, that's a huge hit that can bankrupt a lot of newer landlords and take a very long time to recover from.I think you have the unique opportunity to make your mark in an area that your family already invests in. 

There are some "stipulations" on what the LL must do to continue the process, but it does have the advantage of allowing me to recover as much as possible when I can.

As a trusted property contact said to me, "It would not be logical for these [EU] countries to kill the golden goose that has traditionally brought them such great numbers of buyers and wealth" - Nick Marr from www.europeanproperty.comProperty prices have taken longer to recover from the 2007-08 crash in European destinations popular with British buyers than prices in the UK.

I found BP about 20 months ago while I was at home and medically recovering from a bad experience.

First of all I am 60 years old and I found BP about 20 months ago while I was recovering from some medical issues.  

You know you have to pay off all the HML costs/month when you refi since you are taking out the HML with the refi.4 - Let's say this all works and you have that extra cash available at closing, and you want to recover the HML cost from CF/M.  

If there was any negligence on your part, the tenant's auto insurance company would sue you to recover whatever they paid the tenant.  

Most of the jobs are tied to a large factory, the school system, etc.Property SHOULD be worth at least $300k after rehab is finished.My thought was to refinance, pull cash out to pay off the $50k line of credit, and recover as much of the down payment as possible.Am I spreading myself too thin, trying to pull financing together?

The landlord is also barred in any action brought by the tenant to recover the deposit from asserting any claim or raising any defense for retaining any of the deposit unless the landlord shows that circumstances beyond the landlord's control prevented the landlord from providing the statement within the twenty-one days or that the tenant abandoned the premises as defined in RCW 59.18.310.