Hello , I have a rental property in memphis and now planning to get second one.I need to understand if I cash-out-refi my first property and put the cash downpayment on second one , Should I consider that as 0% downpayment Or 20% downpayment to calculate if the numbers make sense.Also suggest if I should do it at this point or wait some more time.

Based on your comments, you are at risk of  gravitating towards the lower tier neighborhoods where the spreadsheets will suggest cash flow is better but excel spreadsheets don't tell the whole story. 

Hi Paul i am a lien holder and 2 properties in NJ become abandoned and vacant, (GOT LETTERS), can you suggest an attorney  to do quick foreclosure, i know it can be done in 60 days on those type of properties, thanks, Julia

My book on Turnkey Real Estate Investing - Simple Concepts to Overcome Analysis Paralysis and Acquire Your First Rental Property in 29 Days (this title is a work in progress) should be released before the end of October.

Thanks for sharing your knowledge For a rough calculation you could take the annualized P&I payments / the purchase price. 1256*12= 15,072 / 75000= 20% annualized returnI use a simple xls spreadsheet with Present Value (PV) macros to calculate my offers based on P&I payment and remaining term.  

We like the KISS method (keep it simple & for the stupid)

Rental comps in the area suggest the average rent is $1280 for a house this big. 

I’ve been following much of the research you suggested, like inspecting the property and assessing comparable homes in the area.

You will quickly learn that real estate investing is simple.

It's impossible to give a definitive answer on whether you should sell or keep the property without the address and further details but based on the photos alone what I would first suggest is an amenity analysis.