True that we are getting better at extracting more oil.

Anywhere you can add value is an opportunity to extract additional revenues or to reduce cost.

REI is a business and you want to extract as much value from your investment for the lowest cost.Second, talk to anyone and everyone that you know that has real estate knowledge.

Instead of maximizing cashflow, I'd opt for the equity/asset benefit, and just make sure you're making a $100 - $200 spread on the rent vs. mortgage/expenses and make your money by extracting whatever equity you do have in the property once you buy it and investing that either in mutual funds, annuities, IRA's etc, or using it as leverage for the next buy.

The big money is in learning how to minipulate and extract information from the reports off the beaten track....i.e Back on the market or Price Change list.

I nearly drown and am still extracting the proverbial water from financial statements.

If you refinanced to extract equity for future investment, your payment would go up because:- You have increased the LTV ratio; decreased the buffer of equity---rates will be higher.- You will most likely have to pay MI (or a higher payment if the lender pays it for you)- Your blended rate will be higher then your previous interest rate (if you have to go with a combo loan).Regards,Scott Miller

From there I would casually in a conversational tone start to extract the information I need to find him property that he likes, wants, and would be willing to buy from me.

All which places you in the best position to extract a portion of the revenue.

for example:Property Value: $100kSeller Mortgage: $100Kyou obtain the property on a subject2, you then turn around and sell with a wrap with the following:Sale Price: $110K (premium due to owner financing)Down Payment: $20KYou then carry a note for $90K that the buyer must pay offYou then apply $10k of the down payment to the wrapped lender, bringing the wrapped mortgage balance down to $90K, the same amount as the note you are carrying.In addtion to all that, the terms on the new note are created to give you a spread between the wrapped PITI & the buyers PITI (assuming that taxes & insurance are escrowed in).So, after the closing you have created (and extracted) $10K (minus any closing costs) in equity from the deal, and you also are now receiving monthly cash flow via your note and you have no property upkeep.DISCLAIMER: I have never done one of these, this is all academic.