I'm thinking ahead a bit, and I had a question about doing a cash-out refinance.For some background, I bought a buy-and-hold rental for cash; it included two houses: a 3/2 in the front, and a separate studio cottage in the back.

Somtimes I feel like a mouse in a maze, running full speed --hiting a wall, finding a opening --running full speed hiting a wall----etc:: I can smell the cheese ahead!!

(This was long before the internet-age, when newspapers such as Newsday were the major source of RE opportunities).1)A mint little cottage in Selden, 1 block north of Jericho Tpk, with a nice young couple already renting as tenants.

This is exactly what a hamburger joint does when you want to add cheese. 50 years ago the cheese was included.

Purchase price: $220,000 Cash invested: $20,000 Beautiful cottage bought at 220k and double the value in 2 years.

It was a cottage industry for BK attorneys.

@Jay Hinrichs Have you ever developed a pocket neighborhood/cottage cluster in the NW?

I buy little lake cottages.

I have 13 years experience of renting a cottage on our property (which includes leases, tenant vetting, maintenance, evictions etc.).

We are planning on using a 203k to rehab a cottage w/ a small rental apartment above the garage.