Randal Your not going to like my input buy just the same...Yea in theory the deal you want can and I'm sure does occur, however so many things are out of your control and can back fire.I like cut and dry, I don't like the idea of messing with someones life as someone ties their deed up offering a solution that may or may not work out for them.

You want to be sure the seller isn't going to leave you high and dry if they have a note they don't pay.

Sold for the minimum asking price.Drove right out to take a look, liked what I saw - Mount Whitney, Lone Pine Peak, and views across the Owens dry Lake.

The sheep were moved to a cashless society and then the credit well was dried up.

The people of this country have been living a lifestyle far in excess of their earnings for decades.

My/one interpretation of the IRC is that by performing your own management/work on the property you are either 1. making excess contributions or 2. receiving personal benefit from the IRA.

It is also evident that you left out many of the operating expenses, such as management (even if you do it yourself), utilities (even if only during vacancies), office supplies, legal fees, evictions, damage done by tenants in excess of the security deposit, entity maintenance, lawsuits, capital expenses (not technically an operating expense), etc, etc, etc.You might want to read one of the 50% Rule sticky threads in the General and Landlording topic areas.Good Luck,Mike

I love when people form the desert tell me it is "A Dry Heat".

The short and simple is refinancing a property and taking the excess cash out from the loan. 

Of course she was innocent but was hung out to dry because they couldn’t find him 😉.