I wouldn't be cash flowing paying a property manager, maintenance, etc. to be able to operate out of state though.

First off they could close a sale and make a commission and secondly failing to do so could cause their license to be suspended or pay a fine. 3.

Mind Excess Business Loss Rules.

However it is important to remember to make sure you have a plan to pay that loan down and not allow that credit card debt to climb back up.

Have a few areas in mind that typically have good options. 

I have just over $200K left of owner-financing, but I'd like to obtain a cash-out mortgage/loan of $500K (ideally) to be able to pay off the previous owner and make some repairs, etc. 

So keep that in mind when you get your loan. 

The didn't live within their means, accrued a lot of debt, and it eventually resulted in them not paying rent and being evicted.Consolidating debt reduces their payments so they have more money available, but it doesn't automatically teach them to live within their means.

I’m now venturing into new opportunities to expand my expertise and grow my portfolio.I joined BiggerPockets to connect with like-minded individuals, share insights, and learn from the incredible wealth of knowledge this community offers.

*keep in mind I'm none of those things, always rely on the experts*1.