No income but plan to build a cottage and sell, probably net 100K.

:@Engelo Rumora -- It's only going to get better with many selling off due to the lead ordinance.I can't want,The cheese is here and the cat is waiting for the mice to come out and play hehehe

An old man (older than Maytag Blue Cheese -- LOL!).

Let me know what you think of this deal...it's a tiny bank owned 2 bed/1 bath cottage.  

Getting 60k cash back from the refinance.The Property: It's a triple a 3/1, 3/1 double house with a 3/1 cottage in the back, separate structure.

The other house is a 1 bed 1 bath cottage which has been vacant for some time.

The property has two units a 2 bed 1 bath main house @ around 1400 sq ft which was built in the 1920s, and a 600 sq ft cottage with 1 bed and 1 bath.

Good luck and don't cheese out in the studying.

I'm your neighbor, I live in the Cottage Lake area

Trying to get a loan has been a nightmare, the banks don't care about 1.3 million in equity, it's my deductions off my returns and where my personal income fall then.I get 68,400k in rentsand 49k in personal income before deductions.I paid 325k for the property 20 years ago putting 90k downPart of me feels I should try and hold on to the property as it's been such a great investment ( I have lived in every unit and my mother had the rear cottage for 6 years)and another part of me is so fed up with the banks knowing I can make the new loan payments easily, and would never default having so much equity!