Can you explain why increasing debt/mortgage (Cash-out) that will ultimately decrease your cash flow in that unit is better than just letting that equity sit to obtaining a higher cash flow from rent?  

My ultimate goal would be to replace my W-2 income so I can pastor full time and to also prepare for retirement from the ministry so I won’t be limited financially from helping other churches, missions, etc.I have an interest in a couple areas of real estate.

And with a good tenant buyer that is willing to pay in a little extra per month toward the down payment, you can get them to work... and ultimately collect your profit on the backend, or on the second and third lease option tenants if that plays out.The clear advantage of going this way is... if you dont find a "GOOD" lease option buyer, you are not obligated to the sellers... just let the bank take it like they were going to anyway.Pre-foreclosure lists are easy to find, and because getting a short sale completed is a numbers game there are often many sellers in that niche that could not get the short sale done, and are going to walk... you can cut your teeth on those until you get your system fine tuned.On a side note... the other way to go is to get a mailing list of absentee owners from your county tax rolls, or realquest.com.

when Fannie Mae Flex 100 allowed all of the highlights above (less the non-occ co-borrowers) it was the ultimate end-user loan for flips, since Fannie Mae has no seller title seasoning rules.i don't have much of a solution for you, but yes what you heard is true.

While a little sightseeing and meandering is ok and can even be beneficial, ultimately, you have to select a destination before you can mapout your route to get there.I could be completely wrong, of course, but from your post it sounds likeyou are unsure of your goals?

With adequate cash flow you can survive to enjoy the appreciation later, which is just icing on the cake.

The only real question is whether we're prepared to survive and even thrive during those tough times.Mike

I believe Keenleland will survive, but as to Faith Landing - I'd run (my brother-in-law already has).

it survives hail much better than a "30 year" roof, which is only good until the next hail storm.

Is your ultimate goal to buy and sell real estate or screw over homeowners?