In some jurisdictions, you are liable for 3 times the value of the property if you lose.

Quote from @Mary Jay: Quote from @Jay Hurst: Quote from @Mary Jay: hi guys,so I have a lot of equity in one of my rentals but the interest rates are super low on it. so I dont want to do a cash out refinance on it because I dont want to lose the 3% interest rate on it.I want to get some cash out of it via Heloc or another vehicle,  so I could buy another rental, but its not my primary, so I cant get a HELOC on it from lots of banks....I think PenFed does helocs on rentals, but because I have more than 5 rentals, I dont qualify for their HELOC loan.IS there a bank that would give a HELOC/cash on a rental?

But again, your profit after selling costs (and any capex improvements) would have to be in excess of $60ok to really make sense.

Even with 10% down you’re “hoping” that’s all you lose if it all goes wrong. 

You probably don't run many applications, so I wouldn't sweat losing a little money on each one.

This resulted in literally weeks of delays, which contributed to the closing being postponed and rescheduled, losing our locked interest rate.A big gap in the overall Kiavi process is that we never received detailed introductory emails about the steps of the refinancing process.

@vgj makes a good point... yes, it's from a small base, but you quickly lose the plot. 

Purchase price: $275,000 Cash invested: $294,000 Sale price: $355,000 Seller was behind on pay HOA payments and in risk for losing the property.

@Hector Haro there's no helping someone who pinches pennies while losing dollars.

The opportunity cost of losing potential market gains in your retirement fund should also be considered.