This is a question on refinancing- If I own a property in a Llc company with lots of equity, I refinance, that money is classed as tax free as it’s a loan/debt?

.- I've read about A, B, C, and D class properties. 

@Jeffery Jones you understand you'll be buying Class C & D properties, not in the best of areas?

@Rae Chris Ann Arbor is pretty expensive, so difficult to find cashflowing rentals.You may want to look in Ypsilanti - if you want to stay in your area.Otherwise, Metro Detroit offers a LOT of options.Read our copy & paste below for some helpful info:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

A B class rental here is probably different than a B class rental in your area as is the profile of the tenant that occupies it.

I guess Air BnB is the newest hot topic.. nice southern gentlemen.. can't comment on his class or anything like that since I have not sat through it..

Municipalities either want Class A multifamily, or 2000+ sqft homes on .25 acre lots. 

I know property managers in every state who use non-refundable application fees and it is the standard for every class of property and applicant.

From a risk point of view, there is no real middle class and a very small upper class.

Meaning, a Class C Neighborhood will have majority of Class C properties, but there will still be some Class B and some Class D.