Charles

Hi Charles, I'm a local investor, shoot me the info and I'll run the #'s..  

However, if what Charles was saying is correct, not technically "owning" the land can change how the depreciation of the property works come tax time - and that would skew the calculation and add a few more years to the timeline.  

Hello everyone, my name is Charles and I am new to BP and am looking to get started in real estate investing as quickly as possible.  

Charles,I cannot give you exact answers for your questions because banks have different terms to do a cash-out refi.

@Charles Worth,Just curious as to why you think it might not end well.No investment is guaranteed to produce a return and all investment involves risk, especially the risk of loss including, but not limited to, the amount invested.

After doing research on what @Charles Biter said about "Equity Skimming" I don't think I will be moving forward in the transaction.  

If the agent calls me (they are usually slow to follow up) I will make a reasonable offer subject to inspection and a study period.Everything is negotiable - CONTROL IS KING - learn how to control real estate - it is a short cut to cash flow -  it is the best way I know of assigning properties.Who controls real estate - An agent with a listing agreement (treat them well - they are in control for a period of time)An accepted option agreementA buyer with an accepted contract of sale with contingencieshttp://www.realtor.com/realestateandhomes-detail/M...Charles

@Charles Worth It was realizing exactly that level of complexity for achieving diversification that led me to conclude that (a.)

You can find all the contractors you need -- just go to Lows or Home Depot 5:30 in the morning and talk to the folks buying material for their next job - negotiate Charles