We’re weighing whether to leverage our funds by putting 20-30% down and financing the rest, or to buy properties outright in cash and then pursue a cash-out refinance.I wasn’t previously aware that each person in a household can have up to 10 mortgages under their name.

The target customers are the unbanked and underbanked population, which is 30 million household in US.

How much is your household income?

Now keep in mind, median household income here in MN midwest and CA is almost exactly the same, just over $100kyr.

Maybe it was a bad business decision or maybe they misunderstood that Akron is a modest community with a modest average household income.  

Negative $700/month doesn't put a dent into our household free cash flow and that allows us to buy properties that appreciate rather than cash flow. 

I also believe many of the people will not have 2nd homes   For example Altadena has slightly high, for coastal CA, RE prices but household income is near the median for CA.  

The story behind Rommel here is that he was in a very abusive household with some bad guys.

San Diego’s average house hold income is about what you stated, but the median is a surprisingly low (considering US news and world report lists it as the most expensive US city) ~$100k.  

This approach mitigates risk while leveraging your resources effectively.Looks like your household could qualify as REPS and really offset your taxes if your portfolio is optimized.