Cash on Cash returnsProperty A - 5% (Had a turn that cost one month rent, one month in lease up fees, and then almost another month rent in the turn as this tenant lived there for almost 3 years.)Property B - 27%Property C - 18%Property D - 17%Blended CoC - 16%IRR (For the sake of this, just cash on cash + principal paydown (before the cash-out refi's) went into this calculation)Property A - 10%Property B - 33%Property C - 22%Property D - 21%Blended IRR - 21%Factoring a cash out is always tough where to place it when looking at returns, yearly the returns would come out to 41%, 73%, 105%, and 100%, but really, with the money I've made and taken out I've already made back all of the money down into my pocket and then some so over 100% cash on cash overall.The crazy thing about the refi was that not only did I take money out, but the amount my payment increased over 30 years is LESS than what I took out due to lower interest rates now.Kansas City Property - Cash on Cash - 3%, IRR with above metrics - 7% - This property is the most expensive TK I've ever bought, it's a nice property with low issues, but once a turn hit, the property just took a while to rent back out.Turnkey isn't exactly TURNKEY and PASSIVE like everyone thinks.

Might offer you a better blended rate so only part of your long term debt is on the higher interest rate. 

Investor B lends money and expects to be secured with a 1st lien position.

For example a brand new home completed today will have a rehab budget of about $7,000 but maybe this is offset somewhere else such as the division that buys from the courthouse steps which is where they over pay for properties as they use a blended yield strategy even though they have no idea of the interior condition.

Predicting the future based on a blend of the past (an average).You can not predict any more than anyone else.

It'll blend in with the natural surroundings nicely.https://s-media-cache-ak0.pinimg.com/600x315/d9/05/86/d90586a607ded358bd092234fa1a7e2a.jpg

The exception is available for blended families so that if by marriage, you gain children that exceed what your current bedroom configuration can accommodate, you will be apply to apply for a second FHA home loan.Extreme Commute - If you take a new job and the commute causes a hardship, you can also be exempted from the restrictions on getting a second FHA home loan.

@Kyle Root I've never done a blend like that.

I've tried to blend the best of their varying perspectives together to make up the trusts we use for the houses we buy.Good luck!

One of the reasons I love STR's is the chance to blend your lifestyle and investing goals.