Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

However my market is currently Arizona.

A few other houses (all single family houses) on the same street are on the market for rental and they (including my house) all get grouped and nestled under one cover listing as “units” of an apartment complex.

If things go sideways, you discovery greater rehab expenses, the market takes a turn for the worse, you can get in the red quickly. 

I think it's very dependent on the property and market. 

Industrial buyers probably didn’t like it because they didn’t want MHP and self storage and vice versa.  

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

They would likely be able to confirm that your expenses are reasonable for the area or that your rents are at market rates.

Im not expert but Ive took out a heloc and dragged on going on my advise and it suckedHi @Mario Morales, There are 2 things I would pay attention to in the scenario you describe. (1) Most cash out loans are limited to 75% -80% LTV meaning you wouldn't be able to get all of your cash back out. (2) The interest rates I see in the market are closer than what you've listed.

You may qualify based on Market Rents or Lease Agreement.