Hey Daniel, you can use a platform like Avail that will give you all the info you need to know like:-Credit score- criminal record-eviction historyYou will also need to gather their:SSNIDPaystubs and 3 months bank statementsat least 2 past landlord references.If all the above check out, you likely have a great tenant.

And your bank is not requiring any sort of paydown of the mortgage for a partial release. 

NOT the bank's own money.  

I am now 29 and wanting to grow at a faster rate- and also ensure that I am making smart moves, rather than just grasping at whatever a bank will give me.

In fact assuming attached 4 small standard San Diego units, my maintenance/cap ex would be $1200 or almost 12% in your scenario.  

Did you check for houses on the auction list,  or you can check with banks and look for REOs and convert that into a single family home and house hack or turn it into a Airbnb. 

I've also used traditional loans through regional banks and a few SBA loans. 

Is any bank offering a HELOC based on the combined equity?

It's actually harder if you are currently living in the property, want to cash out, and then have it as a rental as you haven't proven to the bank that the property will cash flow $600 a month on top of the NEW mortgage costs. 1.

(G) Acceptable forms of payment of Rent (including Additional Rent) are ___ personal check, ___ cashier’s check, ___ bank check, ___ money order, and ___ the following online/ACH payment methods ____________________.