But he was smart enough to only take over properties with equity so he was able to refi out of them before the underlying lienholders could foreclose.  

I'm paying a little out of pocket budget-wise to cover costs in return for appreciation and equity built mostly from other sources.

I moved to miami and it's tough to do here columbus land is cheap. lower than lenders even require our buyers have to come up with additional equity just to close the loan. not sure austin's economics but happy to look at a case study with you to see if it's feasible 

Investment Info:Single-family residence buy & hold investment.

Does anyone else have NY properties but set the LLC up in thier state of residence instead?

Secure your option with a mortgage in second position to block out your equity.

I’m looking to pull equity from a property, but I have a great interest rate that I don’t want to lose.

I also can take out a home equity line of credit on my current home....but I need direction. 

However I think the area is going to improve in the next few years + have equity gains. 4 bedrooms + 3 baths seems like a decent amount of space for a tenant.

Between the equity on the condo and the extra cash you have, you can purchase 2-3 homes.