Hi Shruti,That sounds like my type of REI investing, feel free to add me to your Network would love to talk shop some time or help in any way.

I didn't understand why I could not get my money out of a free and clear asset. 

If you ever have questions or want feedback on a plan, feel free to reach out—I’d love to help.

@Samuel Coronado, @Elan Adler  Entire subdivisions of build to rent put more pressure on local landlords because the big institutional investors can afford to buy tenants with low rents and free initial rent period.

While sophistication of your equity partners (private money lenders) will vary between residential and commercial, the principle of raising private capital is the same.You need to develop your own system which allows a constant stream of PML even when you don't need the funds and/or don't have an active deal under contract.For example; I raise private capital by offering free educational workshops for people with self-directed IRAs.

I’ve been involved in real estate investing for over 30 years, so if you ever have any questions or need guidance, feel free to reach out.

We are also going to see rates start to trend down once the 10 Year treasury start to adjust down.If you have any questions at all or need to pick a Baker's brain feel free to reach out!

So, I will not be needing to source leads as much. 

Start with BiggerPockets Ultimate Beginners Guide (free).

For your second question-either refinance it (you say it is mortgage free, so get a mortgage and pull out that money) or try a home equity line of credit (may not work as it is a rental).The difference in insurance quote with 5% and no coverage is ~ $1200 for the year.