If the properties also have cam or NNN and what the current owner pays such as taxes and property management.

We need to pay down our expenses so our plan is to payoff all revolving debt this summer to be able to access the equity in our place either through an home equity line or potentially cash out refi out of our current FHA to a conventional and then FHA into another multi. 

@Ginger Carr I cam across some information about Lake Las Vegas that I thought was interesting: "The lake was built in the channel of the Las Vegas Wash — the valley's only storm runoff outlet. 

Many people are attracted to a HELOC as it has its advantages: easy approval process, low interest rate, open ended (aka revolving credit) loan, low cost to acquire, every one the block has one, etc. 

@Jay Hinrichs It's illegality revolves around fact we are non disclosure state.

Hi there is more to this process, many things will dictate the outcome of this process.1-In one year what will the refinance rate will be. 2-In the market you are buying how much will the property will appreciate, you cam only get 70% to 80% value in a refinance.3-Usually you are buying a distress property and that is why you get a bump in value when you refinancing, but will only cover the expenses you had for the renovation.

If you have that much equity you could use the rental home like a revolving line of credit. 

Be sure to keep your revolving credit utilization (credit cards) at a low percentage of your total credit line, and that should keep your score up if everything is paid on time.

The property accountant will reconcile bank accounts, rent reconciliations, create (maybe post) journal entries, preform CAM recs (commercial assets) and do the period end closing with financials to shareholders (lenders, owners, partners, etc).   

See below: PROPERTY #1My first contact with Vacasa revolved around a discussion about where best to invest for an absentee owner and do you offer turnkey property management(answer was yes).